ShopOne Centers REIT Inc., with its joint venture partners Pantheon and a leading global institutional investor, have acquired Publix at Mt. Zion in Morrow, marking the fourth grocery-anchored neighborhood shopping center the JV has acquired in the metro Atlanta area.
The 79,031-square-foot shopping center is 98.9 percent leased, anchored by a Publix supermarket that has been operating at the property for more than 30 years.
Publix at Mt. Zion is located less than seven miles south of Hartsfield-Jackson Atlanta International Airport.
“We are pleased to further grow our presence in the Atlanta MSA with the recent acquisition of Publix at Mt. Zion,” ShopOne Chief Investment Officer Chris Reed said. “This acquisition exemplifies our strategy to acquire neighborhood grocery-anchored shopping centers in high-growth MSAs like Atlanta and add value for our investment partners through our proven operating platform and deep leasing network. Like our other three assets in the market, Publix at Mt. Zion benefits from strong repeat foot traffic and prime visibility while serving the daily shopping needs of the local community.”
The three other assets the JV owns in the metro Atlanta area are Sharon Greens in Cumming, Bethesda Walk in Lawrenceville and Kennesaw Walk in Kennesaw. The venture’s portfolio consists of 15 properties totaling nearly 1.5 million square feet, according to an announcement.
