Lincoln Property Company Southeast (Lincoln) and SRS Real Estate Partners have arranged the $15.7 million sale of Venture Pointe, a 335,151-square-foot power center located in Duluth, Georgia. Tony Bartlett and Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller, Wells Fargo Bank, N.A., in the transaction, which took place through Auction.com. Angkawijana LLC purchased the property, which is anchored by Kohl’s, Big Lots and Golfsmith.
“Venture Pointe garnered significant interest from the investment community because of its strategic location and significant value-add potential,” said Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office.
Located at 3960 Venture Blvd. in Duluth, the property benefits from its location at the Steve Reynolds Boulevard exit for I-85. Venture Pointe is strategically positioned within a significant retail corridor, located adjacent to PGA Superstore and Dave & Buster’s.
About Lincoln Property Company
Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, employing over 6,800 people in 32 states and 10 countries in Europe. Since its inception in 1965, Lincoln has developed over 128 million square feet of office, industrial, and retail projects as well as 209,000 apartment units. Stemming from its development and ownership background, Lincoln’s operating platform seamlessly integrates its various service lines, provides for consistent and measureable performance and utilizes cutting-edge technology over its 350+ million square feet of managed assets.