The firm has arranged the sale of Cofer Crossing, a fully leased 136,139-square-foot shopping centre anchored by Kroger and HomeGoods in the Atlanta-area community of Tucker, Georgia.
Cofer Crossing is anchored by Kroger, Georgia’s most dominant grocer and the fifth largest retailer in the world. Built in 1999, Cofer Crossing is also home to notable tenants HomeGoods, Dollar Tree and a line-up of national and regional tenants that have performed exceptionally over the past 12 months. Kroger recently acquired a former Shell gas station located at the entrance of Cofer Crossing, which has since been renovated into a new Kroger Fuel Center, reflecting Kroger’s commitment to the property, according to Fryman.
Hanley Investment Group’s President Ed Hanley and Executive Vice President Kevin Fryman, along with ParaSell, Inc., represented the 1031 exchange buyer, a private investor based in Ontario, California. The seller, a partnership between SITE Centers Corp. and Madison International Realty, was represented by the JLL Retail Capital Markets team led by Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan and Associate Taylor Callaway.
“The buyer was attracted to Kroger’s below-market rent and the fact that Cofer Crossing is the #1 most visited shopping centre within five miles and 100 per cent of the tenants paid their rent during 2020,” said Kevin Fryman, Hanley Investment Group’s Executive Vice President.
