Investment Properties Group sells Shannon Crossing in Atlanta, Ga.

Shannon Crossing presented an excellent opportunity for investors to own a shopping center in the heart of Atlanta, anchored by a high-performing Kroger with Kroger Fuel. Located in Union City, near Atlanta’s Hartsfield-Jackson International Airport, the asset is part of a growing sub-market which continues to improve in conjunction with Rooker Development Company’s major $26 million re-development of the former Shannon Mall site – located across the street. Converted into a distribution hub and film studio, the development won the 2015 NAIOP award for development of the year. With a gentrifying community and already strong sales, Shannon Crossing was a great acquisition for the buyer and an excellent fit for their current acquisition goals.

Client Testimonial

“After a thorough marketing process which successfully uncovered the best buyer for Shannon Crossing, the SRS Investment Properties Group did a great job managing the hurdles which came up during the closing process. I appreciated their efforts in staying heavily involved while helping to facilitate as expeditious a transaction as possible.”
– Jeff Schottenstein, Schottenstein Realty Company

Deal Strengths

• Kroger-anchored center with Kroger Fuel and excellent sales numbers
• Located in the heart of the Atlanta, Ga. MSA in a gentrifying sub-market which continues to grow
• Strategically positioned at I-85 and Jonesboro Rd across from an award-winning $26 million film studio and warehouse development

Deal Challenges

• Challenging existing demographics in an older retail market
• Center required noteworthy capital improvements, including a new roof
• Predominance of local shop space tenants

Overview