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"This was a great opportunity for a buyer seeking a well-leased, recently improved shopping center in a submarket experiencing tremendous growth." Ackerman Retail President Leo Wiener
ATLANTA, GA, December 14, 2018 /24-7PressRelease/ -- Ackerman Retail, a division of Ackerman & Co. and the exclusive advisor to the estate of Charles S. Ackerman, announced today it has brokered the sale of 85,525-square-foot Woodstock Square shopping center in Woodstock, Ga., for $7 million ($82 PSF).
Dallas-based Tabani Group Inc. purchased the neighborhood shopping center, located on GA Highway 92 about 1.5 miles from the city of Woodstock's historic downtown. Ackerman Retail Senior Vice President Sean Patrick and Vice President Stephen Lapierre represented ownership in the transaction.
"This was a great opportunity for a buyer seeking a well-leased, recently improved shopping center in a submarket experiencing tremendous growth," said Ackerman Retail President Leo Wiener, who leads the disposition effort for the Charles S. Ackerman estate's retail properties. "In addition to the excellent tenant mix, the property offers the potential of infill redevelopment on an outparcel site."
Located approximately 25 miles north of Atlanta, the 93% leased Woodstock Square is anchored by Stars & Strikes Entertainment Center and features a wide range of national and local tenants, including Subway, Goodyear Auto Service, Philly Connection cheesesteaks, Bub-Ba-Q barbecue restaurant, Stevie B's Pizza Buffet, BSN Sports, U.S. Army Recruiting Center and more. Recent improvements at the center include replacement of its roof.
Woodstock's population (currently estimated at 31,000) has increased by approximately 310% since 2000. The busy GA Highway 92 corridor, the submarket's main business and retail artery, boasts retailers such as Sam's Club, The Home Depot, Lowe's, Target, Goodwill, Starbucks, QuikTrip, Krispy Kreme, Starbucks and Chick-fil-A.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired nearly 35 million square feet of office, medical, industrial, retail and mixed-use space, has more than 7 million square feet under management, and maintains an investment portfolio valued at $1 billion.
For more information on Ackerman & Co., visit www.ackermanco.com
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