JLL Capital Markets this week announced that it has closed the $16.2 million sale of Crossroads South, a 201,404 square-foot, Kroger-anchored retail center, at 7965 Tara Blvd. JLL represented the seller. First National Realty Partners acquired the asset.
Kroger recently executed a long-term renewal with plans to construct and operate a Kroger Fuel Center at the Property.
“Crossroads South is 92 percent leased to a loyal and well-tenured rent roll that includes multiple anchors, including Kroger, Plant Fitness, Badcock Furniture & More and Roses,” according to the announcement. It is also home to inline tenants such as Subway, H&R Block, Shoe Show, and Top Nails.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan, and Associate Taylor Callaway.
“Demand for grocery-anchored investments is the strongest we’ve seen in nearly two decades,” Hamilton said. “We have seen many investors shift their strategy to retail investments, with grocery-anchored being the most highly sought after.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.