Nuveen Real Estate has recently sold Fayette Pavilion, the largest and most popular open-air shopping center in Georgia, to 5Rivers CRE. The sale was arranged by CBRE.
Situated on approximately 106 acres in Fayetteville, Georgia, just 22 miles south of downtown Atlanta, Fayette Pavilion draws over 8.3 million visitors annually. Developed in four phases between 1995 and 2003, this property has transformed into a super-regional retail destination with grocery stores as its main anchors. Currently boasting a high occupancy rate of 96%, the center is home to a diverse mix of tenants including Publix, Hobby Lobby,Burlington,Ross Dress for Less , Marshalls,PetSmart , Old Navy,pOpshelf,Dollar Tree,and Five Below.
Established in Houston in1995,family-owned commercial real estate investment management company-5Rivers CRE-has acquired this property.Their portfolio includes $700 million worth of retail space spanning over five Sun Belt states totaling at an impressive amountof square feet -a staggering figure that stands at around4million square feet since their inception.
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