ATLANTA, GA – April 30, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Cherokee Commons, a 103,711-square-foot, Kroger-anchored shopping center in the Atlanta suburb of Acworth, Georgia.
The HFF team marketed the property on behalf of the seller, PMAT Companies. Collett Capital purchased the asset free and clear of existing debt.
The 89-percent-leased Cherokee Commons is anchored by Kroger, the No. 1 grocer in Georgia, and is home to a variety of shop tenants. Situated at 6199 Highway 92 in Acworth, which is less than 30 miles north of downtown Atlanta, the center is in Cherokee County, the fastest-growing county in the Atlanta MSA. More than 1,400 homes are planned or under construction in the area immediately surrounding the property, and more than 69,000 residents earning an average annual household income of $89,000 live within a three-mile radius of Cherokee Commons.
The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Michael Allison and real estate analyst Ryan Stoffer.
About PMAT Companies
The PMAT Companies is a real estate development firm focused on value-add shopping center investments across the Southeast, Sunbelt, Mid-West, and Mid-Atlantic regions. The PMAT Companies have acquired and renovated thirty-five primarily grocery anchored shopping centers with an aggregate value of approximately $700 Million dollars consisting of nearly five million square feet. PMAT’s investment strategy is to acquire value-add shopping centers and create long term value through redevelopment and re-tenanting of the assets. For more information, visit pmat.net.
About Collett Capital
Collett Capital is a privately owned acquisition platform that focuses on acquiring undervalued community shopping centers in the southeast, southwest and Midwest, and southeastern real estate assets with existing cash flow and the potential for long-term capital appreciation. For more information, visit collettcapital.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.