Selig Enterprises Joint Venture Acquires Lenox Marketplace

Lenox Marketplace features a mix of retail and dining options on a 9.4-acre property in Atlanta's Buckhead
Lenox Marketplace
Photo: Google Maps | A shot of Lenox Marketplace.
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A joint venture led by developer Selig Enterprises has acquired the 421,000-square-foot Lenox Marketplace retail center in Buckhead for an undisclosed price, the company said on Thursday. It is joined in the purchase by the State Teachers Retirement System of Ohio.

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“We’re optimistic in the rising tides of the retail landscape shown through our acquisition of Lenox Marketplace,” Selig Enterprises President and Chairman of the Board Steve Selig said in a statement.

“This property sits in one the most highly-trafficked retail districts in Buckhead and is an ideal addition to our existing portfolio. We welcome the opportunity to enhance this asset in order to attract the right tenants that best serve this community.”

The owner of the center had been national retail real estate owner Edens, according to Fulton County property data, which don’t yet show record of the transaction.

The deal, which Selig says brings its retail portfolio to nearly 4 million square feet across the southeast, will potentially be followed by a capital improvement plan meant to reposition the property, the company said this week. The Atlanta-based developer will oversee leasing for Lenox Marketplace and act as its asset and property manager.

Current tenants at the multi-level property include Target, Publix, Dick’s Sporting Goods, LA Fitness, Ethan Allen, Roam, and Iron Hill Brewery and Restaurant.

Selig negotiated on behalf of the buyers in the transaction, while the seller was represented by real estate company Eastdil.

Dean Boerner

Dean Boerner

Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. He received his bachelor's degree in economics and business from Saint Mary's College of California, where he also served as the editor-in-chief of The Collegian, the school's campus newspaper. Before that, he spent two years as the publication's sports editor, and he remains a committed fan, for better or worse, of his Sacramento Kings, San Francisco Giants, and Saint Mary's Gaels.
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