City Center Crossing, a grocery-anchored shopping center in Sandy Springs, has changed hands in a multimillion-dollar deal. JLL Capital Markets arranged this multimillion-dollar transaction. The property sits within one of Atlanta’s most affluent retail corridors along Roswell Road.
City Center Crossing in Sandy Springs Bought for $20.8 Million
JLL Capital Markets announced the sale of City Center Crossing on January 7. The company arranged the sale of the 98,408-square-foot shopping center for $20.8 million. The center is located within the Atlanta MSA in Sandy Springs, Georgia.
The new owner, Crosspoint Associates, specializes in ownership, management, and development of supermarket-anchored retail properties. It currently has over 3 million square feet of real estate under management. The purchase expands Crosspoint Associates’ footprint in the Southeast, where it continues to invest in grocery-anchored retail.
High-Traffic Retail Corridor Along Roswell Road
Located at 6331 Roswell Road, City Center Crossing is a premier retail district. The center sees approximately 29,000 vehicles per day and is surrounded by more than 3.5 million square feet of retail space with 95% occupancy. The retailers surrounding the center include leading grocers like Trader Joe’s, Whole Foods, Publix, and Kroger.
The average household income of this retail district is $172,000 within a three-mile radius. Anchored by the wholesale grocery concept CHEF’STORE, the shopping center is 100% occupied. Its diverse tenant mix includes Planet Fitness, Goldfish Swim School, Ready. Set. Fun., Hudson Grille, GolfTec, and others.
JLL Capital Markets’ Role in the Sale
JLL represented both the buyer and seller in the transaction. It represented the seller, First National Realty Partners, in the agreement. It also worked on behalf of the new owner, Crosspoint Associates, and helped procure the acquisition loan.
JLL’s Investment Sales and Advisory team represented seller First National Realty Partners. The team was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan, Vice President Andrew Michols, and Analyst Charlie Merrigan.
JLL’s Debt Advisory team represented the new owner, Crosspoint Associates. The team included Managing Director Henry Schaffer, Senior Managing Director Gregg Shapiro, and Director Hunter Goldberg.
