Queen City Investor Takes Another Bite from The Big Peach
- Aug 03, 2015
An employee-owned real estate investment management company headquartered in Charlotte, NC has acquired its second retail property in Atlanta. FCA Partners purchased Parkway Pointe for $43.9 million. The 196,664-square-foot retail center is the company’s highest performing retail asset in metro Atlanta to date. The property changed hands on June 25 and Eastdil Secured represented the seller, Stockbridge Capital.
Located within Atlanta’s Cumberland Galleria submarket, Parkway Pointe is less than one mile from SunTrust Park, the future home of the Atlanta Braves. The center is situated in the northeast quadrant of the intersection of Cobb Parkway and Cumberland Boulevard and benefits from immediate access to Interstate 75. It has established itself as a premier entertainment destination serving Atlanta’s Buckhead and Vinings neighborhoods.
The property is currently home to tenants like AMC Theatres, Main Event Entertainment, Taco Mac, Copeland’s of New Orleans, Pier 1 Imports and Roam. FCA Partners is seeking junior box retailers for the two remaining units of 12,000, respectively 18,000 square feet, that offer signage visibility from Cobb Parkway.
Photo credit: FCA Partners