A shopping center in Sandy Springs has changed hands.
Jamestown has added Fountain Oaks to its portfolio of grocery-anchored shopping centers, the real estate investment and management firm has announced.
Fountain Oaks is an approximately 160,000-square-foot center anchored by Kroger. The shopping center was originally built in 1988 and renovated in 2003. It is currently 92 percent leased to 38 tenants.
Jamestown has owned and operated more than 20 grocery-anchored shopping centers since its inception. The company’s portfolio includes the Whole Foods-anchored Hammond Exchange and Parkside Shops in Sandy Springs, as well as the Kroger-anchored Parkaire Landing in Marietta.
The firm is also known for its mixed-use developments and adaptive-reuse projects, including Ponce City Market.
The acquisition of Fountain Oaks, announced alongside the acquisition of Florida’s Publix-anchored Tamarac Town Square, expands the firm’s grocery-anchored shopping center portfolio to nine properties across Georgia and Florida, totaling about 1.4 million square feet.
“Grocery-anchored shopping centers have been a focus area for Jamestown for decades,” Jamestown President Michael Phillips said in a news release. “Our vertically integrated capabilities and consumer-centric approach to real estate are differentiators within the space. Our aim is to create third places where people come together and feel connected, and grocery-anchored shopping centers hold the potential to be fixtures of the communities they serve.”
JLL represented EDENS in the sale of Fountain Oaks.
