Special to the MDJ
The Shopping Center Group, the largest privately owned retail real estate advisory firm in the eastern United States, recently finalized the sale of The Shoppes at Due West Pavilion in Marietta, which traded for $3.32 million on Oct. 6. No additional terms were disclosed.
“The Southeast’s retail investment market has clearly rebounded with pent-up demand for investment opportunities with solid fundamentals in suburban markets throughout Georgia and Alabama,” said T. Neal Pringle Jr., CCIM, director of investment sales and finance for TSCG. “Investors are recognizing the value of neighborhood centers with strong anchors in secondary markets.”
Pringle, who leads the Georgia investment sales team that includes Directors of Investment Sales Mark D. Cooley and Daniel Earles, was responsible for the transaction.
The Shoppes at Due West Pavilion is an 18,200-square foot, unanchored community center featuring Nature’s Corner Market, Blimpie, Peace Love Pizza and Daily Grind. Built in 2006, the 92 percent leased center is at a signalized intersection of a major north-south commercial artery in Cobb County with almost 10,000 vehicles per day.
TSCG represented the seller, The Shoppes at Due West Pavilion LLC, in the sale of the asset to SCGV-Due West LLC, a private Southeastern United States based fund.
TSCG represents institutional and private owners of retail real estate throughout the eastern United States. In their efforts to maximize the return on investment from the sale of properties for their clients, the team utilizes a comprehensive sales effort that combines an institutional level capital markets model with the retail tenant representation aspect of commercial real estate.
Founded in 1984, TSCG, with 23 offices in 16 states, is a retail real estate advisory firm known for its analytical approach, wide-ranging resources and industry leading results. For more information, visit www.theshoppingcentergroup.com.