A grocery-anchored shopping center north of Atlanta has changed hands.
Big V Property Group has acquired Johns Creek Town Center, a 303,297-square-foot retail center in Suwanee. JLL represented the seller.
The property on a 31.7-acre site was built in 2001. It is 99.7 percent leased, including Sprouts Farmers Market, HomeGoods, Michaels, Market by Macy’s, Kohl’s, PetSmart, ULTA and more.
Big V Property Group is headquartered in Charlotte, North Carolina. The real estate investment and property management company owns and operates more than 50 shopping centers totaling over 9.5 million square feet, primarily located in the South.
The acquisition of Johns Creek Town Center marks the company’s fifth center in Georgia.
“Greater Atlanta is one of the most dynamic markets in America, and we’re thrilled to complement our expansion efforts in the region with the addition of Johns Creek,” Big V Property Group CEO Jeff Rosenberg said in a news release.
The JLL Retail Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Vice President Andrew Kahn.
“Looking ahead, due to the retail sector’s high levels of occupancy and its undersupply of new development, we are confident that current owners and investors are poised to capitalize upon the sector’s strong fundamentals and long-term rent growth,” Hamilton said.
