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- ShopOne REIT Acquires Publix at Mt. Zion
ShopOne REIT Acquires Publix at Mt. Zion
Slice of Real Estate Team
June 11, 2024
Key Highlights:
ShopOne Centers REIT Inc. acquires Publix at Mt. Zion in Morrow, Georgia.
This marks the fourth grocery-anchored shopping center acquisition in the Atlanta MSA.
The 79,031 sq. ft. property is 98.9% leased and anchored by a Publix supermarket.
Publix at Mt. Zion serves over 225,000 people in a dense retail submarket.
ShopOne plans to continue expanding in high-growth markets.
Source (Business Wire)
Notable Quote
“We are pleased to further grow our presence in the Atlanta MSA with the recent acquisition of Publix at Mt. Zion. This acquisition exemplifies our strategy to acquire neighborhood grocery-anchored shopping centers in high-growth MSAs like Atlanta and add value for our investment partners through our proven operating platform and deep leasing network.”
Our Take:
The acquisition of Publix at Mt. Zion by ShopOne Centers REIT Inc., in collaboration with Pantheon and a global institutional investor, underscores a strategic expansion into high-growth markets within the Atlanta MSA. The focus on grocery-anchored shopping centers positions ShopOne to leverage strong consumer foot traffic and stable tenancy, particularly in dense retail submarkets. With a robust leasing network and a commitment to value enhancement, ShopOne's approach aligns with the broader industry trend of investing in non-discretionary retail properties that offer long-term growth potential and resilience against economic fluctuations.