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Atlanta Commercial Real Estate

Transwestern Sells Lilburn Kroger

Kimco has picked up a Lilburn Kroger shopping center for a  cool $10M. Kimco purchased Five Forks Crossing, a  74k SF Kroger-anchored center in Lilburn from SWA Investment. (While there, they also picked up some milk and paper towels.) The facility is fully leased. Transwestern's  Fred Victor and Kimco's Ross Cooper brokered the deal.Fred tells us the deal "represents  strong institutional investor appetite  for performing, well-located retail centers." And institutional investors are very focused on grocery-anchored retail centers for investments—even in the suburbs. "If you've got the right tenant mix in place, and it's in a good retail node, both private and institutional investors will  pay down the cap rate for quality product." In some cases, cap rates are hitting sub 6%. "I don't think that cap rates have moved that much in the past couple of years for real quality product."

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Related Topics: Fred Victor, SF Kroger
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