Jones Lang LaSalle, has negotiated the sale of Beltline Plaza in for $9.1 million. The supermarket anchored shopping center was sold to Cambridge Investors by Chase Properties. JLL's managing director and national director of retail sales Jim Koury with associate Nathaniel Heald represented the seller and procured the buyer.
The 145,277 s/f property on Rte. 67, is anchored by Piggly Wiggly Supermarket. It is 100% occupied with other national tenants including Office Depot, T.J. Maxx, and Dollar Tree.
"Beltline fits into our acquisition strategy of acquiring well located retail real estate in the Southeast United States," said David Rubin of Cambridge Investors.
According to Jim Koury: "We were pleased at being able to successfully close this sale in such a challenging environment. This was really the result of a joint effort between all parties."
Beltline Plaza underwent significant renovation including a new facade in 2003, and a new roof in 2006.
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