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Shannon Waltchack Announces Its Latest Acquisition

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Property: The Shops at Johns Creek, a Kroger anchored shadow center

Address: Johns Creek, Georgia (North Atlanta)

Size: 20,000 SF on 2.5 acres

Buyer: An investment group headed by Shannon Waltchack

Seller: Altus Johns Creek, LLC

Broker: Craig Taylor, CBRE

Lender: American Equity Investment Life Insurance Company

Quotes:

‘Shannon Waltchack made the strategic decision last year to begin to carefully and methodically expand our geographic footprint outside of Alabama. Over the next couple of years we will be more active in the Atlanta, Chattanooga, Knoxville and Nashville markets.’

The shops at Johns Creek perfectly fits our investment model. The fully occupied center is in Johns Creek, Georgia’s 3rd most wealthy city and we bought the property for less than replacement cost, with below markets rents.’ – Derek Waltchack

The Shops at Johns Creek, a Kroger anchored shadow center

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by Suzanne Echols
06.04.2013