Atlanta-based real estate investment and management firm Jamestown has announced two new grocery-anchored centre acquisitions.
The firm has acquired Fountain Oaks, a 160,000sq ft centre anchored by Kroger in Sandy Springs, Georgia, a northern suburb of Atlanta. Originally built in 1988 and renovated in 2003, Fountain Oaks is currently 92 per cent leased to 38 tenants.
Jamestown also acquired Tamarac Town Square, a 124,000sq ft Publix-anchored centre in in Tamarac, Florida that is northwest of Fort Lauderdale and south of Boca Raton. The centre is currently 84 per cent leased to 19 tenants.
The acquisitions expand Jamestown’s grocery-anchored shopping centre portfolio to nine properties in the two states that total approximately 1.4 million square feet. Jamestown has invested in community-focused, grocery-anchored shopping centres for over 30 years and has owned and operated more than 20 grocery-anchored shopping centres in its history.
“Our vertically integrated capabilities and consumer-centric approach to real estate are differentiators within the space,” said Jamestown President Michael Phillips. ”Our aim is to create third places where people come together and feel connected and grocery-anchored shopping centres hold the potential to be fixtures of the communities they serve.”
