Suburban Atlanta Retail Property Changes Hands
- Jan 17, 2020
Shortly following its divestment from a nearly 460,000-square-foot shopping center in Kennesaw, Ga., Retail Value Inc. has sold Newnan Crossing, a 92,412-square-foot retail property in Newnan, Ga. The buyer was Halpern Enterprises. Public records show that the seller had acquired the asset in 2018 as part of a $23.3 million transaction.
At the time of the sale, the shopping center was 100 percent occupied. A 66,412-square-foot Hobby Lobby store anchors Newnan Crossing, with other tenants including GNC, Sally Beauty, Edible Arrangements and T-Mobile. Lowe’s and Walmart serve as shadow anchors, located on either side of the 1996-built retail center. Several outparcels are home to various restaurants and a Chase Bank branch.
Located 35 miles southwest of Atlanta alongside Interstate 85 at 963 Bullsboro Drive, the property is within 2 miles of more than 4.2 million square feet of retail space. Several multifamily and hospitality properties are within a mile of the asset.