Two Atlanta retail centers, Plaza on Ponce and Morningside Village, were recently sold by Asana Partners for a combined price of $67.5 million. The buyer was 26th Street Partners, based in Atlanta.
According to the Atlanta Business Chronicle, before the sale took place, popular establishments Majestic Diner and Plaza Theater signed long-term leases at Plaza on Ponce.
Asana first entered the Atlanta market in 2017 when it acquired historic shopping center Plaza on Ponce for $18.1 million. However, they have now sold it for $36.1 million.
In 2018, Asana purchased Morningside Village for $21 million which includes tenants such as The Family Dog and spans two sides of North Highland Avenue. This property has just been sold again for a total of $31.4 million.
The news was reported by Connect CRE under the title “Asana Spins Off 2 Atlanta Retail Centers”.
