JLL Capital Markets arranged the sale of the 42,499-square-foot Ivy Walk in Smyrna, Georgia
News release
18 August 2022
North Atlanta retail center sells for $18.515M
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ATLANTA, Aug. 18, 2022 – JLL Capital Markets announced today that it has closed the $18.515 million sale of Ivy Walk, a 42,499-square-foot neighborhood retail center located in the affluent north Atlanta suburb of Smyrna.
JLL represented the seller, MRE Properties. The buyer was South Coast Commercial, LLC.
Ivy Walk was built in 2004 and was 91% occupied at the time of sale to a unique mix of well-known and local favorites, including Muss & Turner’s, South City Kitchen, First Watch, Natural Body Spa, Children’s Healthcare of Atlanta and many more.
The property is strategically located at the intersection of Atlanta Road and Cumberland Parkway with excellent visibility to nearly 54,000 vehicles per day and benefits from a captive consumer base derived from the 170 residential townhomes located above and adjacent to the property.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Director Brad Buchanan, Senior Managing Director Jim Hamilton and Associate Andrew Kahn.
“Ivy Walk is a dynamic and high-performing neighborhood retail center located in one of the most affluent and fastest growing submarkets of the Atlanta MSA. The property is home to several well-known Atlanta favorites, many of which are original tenants at the property, and is extremely well-positioned for long term value appreciation,” said Buchanan.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About South Coast Commercial, LLC
South Coast is a real estate investment and asset management firm established in 2010 and headquartered in Atlanta. We specialize in the acquisition, ownership, and management of highly selected, unanchored neighborhood centers in growing markets throughout the Sunbelt. Since our founding in 2010, our company has leveraged our industry expertise and market knowledge to become a premier owner and operator of this unique retail asset class. For further information, please visit our website: www.southcoastcenters.com