real estate

Paces Properties Sells Krog Street Market To Charlotte-Based Asana Partners

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Paces Properties Sells Krog Street Market To Charlotte-Based Asana Partners

The acquisition also includes Atlanta Stove Works.

Charlotte-based Asana Partners late-last week in a press release announced the acquisition of Krog Street Market and Atlanta Stove Works, two buildings in Atlanta's Inman Park neighborhood previously owned and developed by Paces Properties.

The properties were listed for sale in September 2017.

"This investment deepens our commitment to Atlanta and expands our portfolio of authentic, walkable retail properties largely centered along the Atlanta BeltLine," Brian Purcell, Managing Director at Asana Partners, said in the release.

Asana will invest capital to enhance the properties, building on the developments' "appeal as central gathering places along the Beltline."

Both buildings house Atlanta favorites like Superica, Jeni's Splendid Ice Creams, Rathbun's, and The Little Tart Bake Shop and retail and office tenants including The Merchant, Iris, and The Atlanta Beltline Partnership.

King & Spalding served as legal adviser to Asana Partners and Eastdil Secured served as an adviser to the seller.

"Acquiring Krog Street Market and Atlanta Stove Works fits our strategy of investing in urban shopping and dining locations that are closely connected to their surrounding neighborhoods..."

Asana also owns retail in Glenwood Park and is in the process of revitalizing its recently-acquired Plaza on Ponce development.

Asana Partners - Krog Street Market
Photo: Official
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Caleb Spivak

Caleb J. Spivak (CJS) is the Founder of What Now Atlanta (WNA). He was featured in The New York Times, Creative Loafing's "20 People to Watch," named "Lifestyle Blogger You Need To Know" by Rolling Out Magazine and highlighted as Atlanta's Metropolitan Male in fashion magazine, 944. WNA has been named "Best of Atlanta" by Creative Loafing, and Atlanta and Jezebel Magazines.

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