ATLANTA (December 1, 2015) – SRS’ Southeast Investment Sales team, along with Lincoln Property Co., has brokered the sale of Pleasant Hill Square in Duluth, Ga. Pleasant Hill Square is a 282,137-square-foot regional power center, anchored by Toys “R” Us, Jo-Ann and Staples. The property is located at 2205 Pleasant Hill Road, which is situated just north of the intersection of Pleasant Hill Road and Satellite Boulevard. The seller, Wells Fargo, N.A, sold the property for $16.4 million on November 25, 2015 to GW Real Estate of Georgia, LLC.
“Like Venture Pointe, which we sold a month ago in the same sub-market, Pleasant Hill Square is a regional power center with a significant upside opportunity in the changing Gwinnett Place mall retail node.” said Kyle Stonis, senior vice president with SRS’ Southeast Investment Sales team. “The Gwinnett Place CID has created significant redevelopment and development initiatives to stimulate the local economy and it is a great time for the buyer to be purchasing an asset with the location and potential of an asset like Pleasant Hill Square.”
Kyle Stonis, senior vice president, and Pierce Mayson, vice president, in the SRS Atlanta office, along with Tony Bartlett and Chip Sipple of Lincoln Property Co., represented the seller, Wells Fargo, N.A, in the transaction. The buyer, GW Real Estate of Georgia, LLC, was self-represented in this transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.
About Dallas-based 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.
For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com. To check out the blog, go to www.lpcsoutheast.com/blog
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