SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Spalding Village, a retail community center anchored by Hobby Lobby, Ross Dress For Less, Goodwill, Ollie’s Bargain Outlet and Bargain Hunt, which is located in Griffin, Ga. within the Atlanta MSA. The community center consists of 235,318 square feet and is situated on 23.49 acres of land. The center is roughly 93 percent occupied by a mixture of national, regional and local tenants including Mattress Firm, Cato, America’s Best Contacts & Eyeglasses, Edible Arrangements, T-Mobile, GNC and more. Spalding Village was original constructed in 1989 and then renovated in 2018. The property is located at 1424 North Expressway, at the signalized intersection of McIntosh Road and Old Atlanta Road. The center’s strategic, regional location provides high visibility and traffic count of 49,000 vehicles per day. The seller, RCG-GRIFFIN, LLC sold the property on September 24, 2019 to BIG V ACQUISITIONS LLC.
“It was great to represent RCG Ventures in the sale of another Atlanta-area community center”, said Pierce Mayson, principal of SRS’ Investment Properties Group. “They have done a phenomenal job over the last few years, turning Spalding Village into the retail center of gravity for the Griffin market. The asset is a perfect fit for Big V Properties’ rapidly-growing portfolio, and they were a pleasure to work with throughout the process.”
Kyle Stonis, managing principal, and Pierce Mayson, principal, of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer 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 25 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 and investment 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.