PAC Expands Shopping Center Portfolio
- Dec 06, 2017
Preferred Apartment Communities Inc. has acquired the Roswell Wieuca Shopping Center in Atlanta, through its wholly-owned subsidiary New Market Properties. The center was purchased all cash and does not have any mortgage financing.
The 74,370-square-foot shopping center is 100 percent leased to a variety of tenants, including ACE Hardware, 521 Kitchen & Que, Goldberg’s Bagel Co. & Deli Restaurant, Willy’s Mexicana Grill and a 22,921-square-foot Fresh Market grocery store, which anchors the shopping center. The property is located in the submarket of Buckhead and Chastain Park, on the corner of Roswell Road and Wieuca Road.
“The acquisition of the Roswell Wieuca Shopping Center increases the size of our retail portfolio to 38 grocery-anchored shopping centers across seven Sunbelt states, consistent with our strategy to acquire well-positioned grocery-anchored shopping centers in suburban Sunbelt markets with strong demographics,” said Joel Murphy, president & CEO of New Market, in prepared remarks.
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