Greenberg Gibbons has purchased a shopping center in Tucker, just outside of Atlanta, for $17.3 million. The 82,578 square foot property was previously owned by Northlake Square and managed by Barnhart Commercial Management.
Built in 1988, the highly sought-after Northlake Square boasts an impressive occupancy rate of 98%. It is home to a variety of national and local retailers such as ALDI, Best Buy and Mellow Mushroom.
The seller was represented by JLL Capital Market’s Investment and Sales Advisory team led by Jim Hamilton, Brad Buchanan and Andrew Kahn.
Tucker is an established submarket within the thriving city of Atlanta that continues to experience significant growth. According to Hamilton: “The acquisition of Northlake Square reflects the strong demand for well-positioned retail centers anchored by grocery stores in growing areas near major cities.” He also noted that its prime location combined with its diverse mix of tenants makes it a valuable addition to any investment portfolio.
This recent purchase further solidifies Greenberg Gibbons’ presence in the Atlanta area retail market.
