SouthCoast has acquired the Sweet Apple Village shopping center in Roswell for $20.25 million, marking a notable retail transaction in the Roswell/Alpharetta submarket. The property, which is located along Etris Road, changed hands from Ziff Real Estate Partners, which had held the asset for more than a decade.
Ziff Real Estate Partners originally purchased Sweet Apple Village in 2011 for $6.25 million. During its ownership period, the firm implemented a value-add initiative at the center, aiming to enhance the asset’s performance and positioning. While specific components of the program were not detailed, the initiative was described as being carried out throughout Ziff’s hold period.
The shopping center is reported to be 98% leased, underscoring strong tenant demand at the property. The asset’s merchandising strategy emphasizes a variety of national and regional operators, with a focus on tenants that are considered resistant to e-commerce pressure and aligned with essential services. Uses at the center span food and beverage concepts, fitness, wellness, medical services, education, and other daily-needs categories that tend to generate recurring, in-person visits.
Sweet Apple Village’s tenant roster is also characterized by an intentional diversification of occupancy. No single tenant accounts for more than 12% of the property’s total gross leasable area, which can help mitigate concentration risk and reduce dependence on any one retailer. This diversified mix across categories and tenancy types is positioned as a feature of the center’s current leasing profile.
The marketing and negotiation process for the sale involved representation on both sides of the transaction. Matthews professionals Jeff Enck, Kyle Stonis, Pierce Mayson and Boris Shilkrot acted on behalf of both the seller, Ziff Real Estate Partners, and the buyer, SouthCoast. Their role encompassed facilitating the deal between the two parties.
According to information cited from the Atlanta Business Chronicle, the sale price achieved for Sweet Apple Village represents the highest price paid for a retail property in the Roswell/Alpharetta submarket over the past four years. That benchmark underscores the center’s positioning within its trade area and provides a recent pricing reference point for similarly situated retail assets in the submarket.
