ShopOne Centers Acquires Grocery Store-Anchored Atlanta-Area Center

ShopOne Centers and joint venture partners Pantheon and a global institutional investor have acquired Publix in Mt. Zion in Morrow, Georgia.

Located on the dominant commercial corner of the Southlake regional commercial corridor, the 79,031 square foot asset, 99% leased, is dominated by a Publix supermarket that has operated on the property for more than 30 years.

Publix at Mt. Zion serves a shopping area of ​​more than 225,000 people located in the south Atlanta suburb of Morrow. The property is located less than seven miles south of Hartsfield-Jackson Atlanta International Airport and benefits from its position in the heart of a critical mass of large national tenants Costco, Ross Dress for Less, LA Fitness, Best Buy , PetSmart, The Home. Depot, TJ Maxx and others.

“This acquisition demonstrates our strategy to acquire grocery-enabled neighborhood shopping centers in high-growth metropolitan statistical areas (MSAs) like Atlanta and add value to our investment partners through our operating platform and our deep leasing network,” said Chris Reed, Chief Investment Officer. at ShopOne. “Like our three other assets in the market, Publix in Mt. Zion benefits from strong repeat foot traffic and preferred visibility while serving the daily shopping needs of the local community. We will continue to seek to increase our scale in markets with similar growth profiles.

The three other assets the joint venture owns in the Atlanta MSA are Sharon Greens in Cumming, Bethesda Walk in Lawrenceville and Kennesaw Walk in Kennesaw. The company’s portfolio consists of 15 properties totaling nearly 1.5 million square feet.