GBT to Develop $14M Retail Center in Atlanta
- Mar 07, 2017
Atlanta—Brentwood, Tenn.-based national commercial development company GBT Realty Corp., has announced the purchase of a 7.6-acre site in McDonough, Ga. The company revealed plans for a new 71,000-square-foot retail center that will be developed on the newly acquired plot. GBT acquired the site from OTS Capital and Masters Living Trust and expects construction to commence immediately.
“Atlanta South is really gaining traction with national names in retail and dining. Sales figures from those that already call Henry County and the Highway 20 corridor home validate not only the current demand but also the need for more options – particularly in the value retail arena,” Jeff Pape, managing director of GBT’s shopping center division, said in a prepared statement.
Worth an estimated $14 million, the development will be anchored by Burlington and nestled across from SouthPoint on McDonough-Hampton Road, less than one mile west of Interstate 75. An additional junior anchor space and 6,400 square feet are still available for lease. The shopping center is slated to come online late this year.
“Names such as The Home Depot, Wayfair, Tory Burch and TSYS have recently announced or opened expanded operations in this market bringing hundreds – if not eventually thousands – of new jobs. Nothing says vitality than a market that is on a steady population and job climb. Henry County – and McDonough – are ideal platforms for retailer expansion as well as new local concepts,” Pape added in prepared remarks.
Image courtesy of GBT Realty Corp.