ShopOne REIT Acquires Publix at Mt. Zion
Slice of Real Estate Team
06/11/2024
Key Highlights:
- ShopOne Centers REIT Inc. acquires Publix at Mt. Zion in Morrow, Georgia.
- This marks the fourth grocery-anchored shopping center acquisition in the Atlanta MSA.
- The 79,031 sq. ft. property is 98.9% leased and anchored by a Publix supermarket.
- Publix at Mt. Zion serves over 225,000 people in a dense retail submarket.
- ShopOne plans to continue expanding in high-growth markets.
Source (Business Wire)
Quotes
“ “We are pleased to further grow our presence in the Atlanta MSA with the recent acquisition of Publix at Mt. Zion. This acquisition exemplifies our strategy to acquire neighborhood grocery-anchored shopping centers in high-growth MSAs like Atlanta and add value for our investment partners through our proven operating platform and deep leasing network.” ”
Chris Reed, Chief Investment Officer at ShopOne Centers REIT Inc
Our Take:
The acquisition of Publix at Mt. Zion by ShopOne Centers REIT Inc., in collaboration with Pantheon and a global institutional investor, underscores a strategic expansion into high-growth markets within the Atlanta MSA. The focus on grocery-anchored shopping centers positions ShopOne to leverage strong consumer foot traffic and stable tenancy, particularly in dense retail submarkets. With a robust leasing network and a commitment to value enhancement, ShopOne's approach aligns with the broader industry trend of investing in non-discretionary retail properties that offer long-term growth potential and resilience against economic fluctuations.
