Kristi Bash

Main Menu

  • Home
  • South Carolina Real Estate
  • Mortage Loans
  • Home Lenders
  • Real Estate Trends
  • Money Management

Kristi Bash

Header Banner

Kristi Bash

  • Home
  • South Carolina Real Estate
  • Mortage Loans
  • Home Lenders
  • Real Estate Trends
  • Money Management
South Carolina Real Estate
Home›South Carolina Real Estate›Continental Realty Adds to Ga. Portfolio with $24.35 Million Acquisition

Continental Realty Adds to Ga. Portfolio with $24.35 Million Acquisition

By Carmen Roberson
May 4, 2022
0
0

Developed in 1987 and renovated in 2013, Banks Crossing has 29 tenant spaces, several national users such as Kroger. (photo sent)

Baltimore-based real estate investment and management firm Continental Realty Corp. (CRC) has purchased its third retail asset in Georgia with the $24.35 million acquisition of Banks Crossing, a 255,101 square foot regional shopping center in Fayetteville.

The center, at 100-240 Banks Crossing North, is anchored by Kroger and JCPenney and is approximately 91% occupied.

Banks Crossing was purchased on behalf of Continental Realty Opportunistic Retail Investment Fund I, a private equity fund focused on acquiring value-added, income-generating commercial properties in targeted submarkets across the United States .

This is the third retail asset acquired by the Fund and the second shopping center purchased by CRC this year, following last month’s acquisition of Sweetgrass Corner, a neighborhood shopping center in Charleston, South Carolina. which was acquired on behalf of Continental Realty Fund V, LP, a $210.8 million private equity fund.

Other CRC malls located in Georgia include North Bridges, a 106,396 square foot neighborhood mall in Alpharetta, and Summit at Towne Lake, a 59,722 square foot mall in Woodstock. CRC also owns two multi-family communities in Georgia, Millworks Apartments in Atlanta and Two Addison Place in Pooler.

Developed in 1987 and renovated in 2013, Banks Crossing is located on approximately 23 acres near the intersection of GA Routes 85 and 314. The mall includes 29 tenant spaces, several national users such as Kroger, JC Penney, Sally Beauty, Guitar Center and Planet Fitness. Major retailers located in the immediate area include Lowe’s Home Improvement, Walmart, The Home Depot, Dick’s Sporting Goods, Publix, Burlington Coat Factory, Target, and Marshall’s.

The property is located directly off Glynn Street with multiple access points, and over 53,000 vehicles pass through the site each day. Banks Crossing is located approximately 20 miles from the greater Atlanta area. More than 67,000 consumers, with an average household income exceeding $72,000, reside within a three-mile radius of Banks Crossing. The population within a five-mile radius of the center is expected to increase by 11% over the next five years.

Related posts:

  1. Actual property entrepreneur Mr. Patrick Carroll explains tips on how to thrive in a slowing economic system
  2. New Denton County group to deliver tons of of properties
  3. DHL Provide Chain to develop SC operations> Charleston Enterprise Journal
  4. Why house insurance coverage premiums are rising and what owners can do to arrange

Recent Posts

  • 🌱 Pepperhill Park + Aquarium Parking Garage Racers Security Updates
  • Confidential real estate: Some relief from the market
  • Uncover the true cost of mortgage fraud
  • JLL Valuation Consulting Group Creates Dedicated Data Center
  • Here is an overview of the latest updates to the MERS electronic register

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • August 2020
  • August 2019
  • July 2019
  • June 2019
  • May 2019

Categories

  • Home Lenders
  • Money Management
  • Mortage Loans
  • Real Estate Trends
  • South Carolina Real Estate
  • Privacy Policy
  • Terms and Conditions