JLL Capital Markets announced today that it has closed the $20.01 million sale of City Center Crossing, a 98,408-square-foot, LiDL-anchored neighborhood retail center located in the heart of Sandy Springs, one of the most affluent and fastest-growing submarkets in the Atlanta MSA.
JLL represented the seller, Stream Realty Partners. First National Realty Partners acquired the asset.
Originally built in 1978, City Center Crossing has undergone an extensive renovation over the last several years. The property was 77 percent leased at the time of sale and home to notable retailers, including LiDL, Goldfish Swim School, GolfTec, Ready. Set. Fun., D1 Fitness and Hudson Grille.
City Center Crossing is located at 6331 Roswell Rd. in Sandy Springs, one of the fastest-growing and most highly sought-after submarkets in Atlanta. Since 2017, the area has seen explosive growth and development with 1,400 new multi-housing units delivered within one mile of the property. Nearly 94,700 residents earning an average annual household income of $128,647 live within a three-mile radius of the property, and the population is anticipated to grow 6.2 percent by 2025.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Director Brad Buchanan, Senior Managing Director Jim Hamilton and Associate Andrew Michols.
“City Center Crossing is a dynamic, grocery-anchored retail asset located in the epicenter of Sandy Springs, one of the most affluent and highly sought-after suburban submarkets of the Atlanta MSA due to a high-quality school system and proximity to Buckhead and Central Perimeter, the city’s most prominent office market with more than 20 million square feet of Class A office space,” Buchanan said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Stream Realty Partners
Stream Realty Partners is a commercial real estate services organization working for owners, investors and occupants, with an operational area covering some of the most active real estate markets coast to coast.
