Investment Properties Group sells Beaver Ruin Village in Lilburn, Ga.

SRS Investment Properties Group successfully executed the sale of Beaver Ruin Village I utilizing our expansive buyer pool of both public and private investors as well as our list of 1031 exchange candidates which is updated on a daily basis. Given the fact that Beaver Ruin Village I is a shadow-anchored shopping center and is also on a long-term ground lease, the buyer pool for this asset was narrowed significantly. Despite the lack of fee simple ownership and control of the Kroger (which is tenant-owned), we were able to secure five quality offers from qualified buyers, three of which were highly competitive. We selected the best buyer for the asset based upon their recent track record, understanding of the asset, price and ability to close. Despite the challenges during due diligence that are associated with a ground lease that was executed nearly 40 years ago, we successfully managed the process to the closing table.

Deal Strengths

• Shadow-anchored by Kroger – the #1 grocer in the Atlanta metro area
• 94.93% occupied with strong historical occupancy
• Kroger fuel center component creates all-day customer draw

Deal Challenges

• Selling a leasehold interest in the property (entire asset on a long-term ground lease)
• Suburban location within Atlanta on the edge of a transitioning area
• Unorthodox retail layout with 23,320 SF of combined retail spaces with zero storefront

Overview