Aubuchon Realty Company, Inc. (ARC) has recently expanded into the Atlanta market with two retail acquisitions totaling $15 million. The Concord, Massachusetts-based firm purchased a 39,108 square foot shopping center – Town Center Esplanade – in Kennesaw and a freestanding CVS building in Cumming for respective prices of $9.5 million and $5.6 million respectively.
The Town Center Esplanade was built in 1988 and renovated just last year on 6 acres of land at 2700 Town Center Drive; it is fully occupied by tenants as well as attractive assumable debt from CVS which holds more than 10 years remaining on its triple-net lease at 3095 Old Atlanta Road property according to President Eamon Moran who expressed his excitement about ARC’s expansion into the metro area: “We are thrilled to plant our flag in the Atlanta metro and eager to execute on additional opportunities there…These two properties are strong examples of [our] blend[ed] retail strategies.”
