JLL Capital Markets announced Monday that it has closed the $38 million sale of 1010 Midtown, a 44,302 square-foot retail center, at 1080 Peachtree St. NE.
JLL marketed the property on behalf of the seller, The Ardent Companies, LLC. East Coast Acquisitions purchased the asset.
Completed in 2008, 1010 Midtown is 94 percent leased to a mix of tenants including Sugar Factory, RA Sushi Bar, Piedmont Healthcare, Silverlake Ramen, Better Homes and Gardens Real Estate, Panera Brad, Sweathouz, Chipotle, and Sage Dental. The center comprises the ground level of a 425-unit condominium building that was not included in the sale.
The JLL Retail Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Brad Buchanan, Senior Managing Director Jim Hamilton, and Associate Andrew Kahn. East Coast Acquisitions’ plan for the center was not detailed in Monday’s announcement.
“1010 Midtown is a rare, generational asset located in the heart of Midtown, Atlanta’s urban core and one of the fastest-growing submarkets in the Southeast,” Buchanan said. “The property is home to a mix of well-known national and local retailers that cater to a large daytime population and is within walking distance to a plethora of notable Fortune 500 companies.”
