Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Golden Park Village, a 68,738-square-foot, Publix-anchored neighborhood retail center in the northern Atlanta suburb of Buford, Georgia.
Phillips Edison Grocery Center REIT II, Inc. purchased the asset free and clear of existing debt.
Located at 4840 Golden Parkway in Buford, Golden Park Village is situated at the “main and main” intersection of Interstate 985 and Lanier Islands Parkway approximately three miles east of Lake Lanier, which attracts roughly 7.5 million visitors each year. More than 24,000 residents earning an average annual income of more than $86,000 live within a three-mile radius of the center and nearly 81,000 vehicles pass the property each day. Golden Park Village is 92 percent leased to a variety of tenants, including Publix, The UPS Store and Great Clips.
The HFF investment sales team representing the seller was led by senior managing directors Danny Finkle, Jim Hamilton and Richard Reid and managing director Luis Castillo.
“Golden Park Village represented a rare opportunity to acquire a high-performing, Publix-anchored shopping center with limited grocer competition and value-add potential,” Hamilton said.
About Phillips Edison Grocery Center REIT II, Inc.
Phillips Edison Grocery Center REIT II, Inc. is a public non-traded real estate investment trust that seeks to acquire and manage well-occupied grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services, in strong demographic markets throughout the United States. For more information on the company, please visit the website at grocerycenterREIT2.com.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.