July 18, 2019 – JLL announces that it has closed the sale of The Shops Buckhead Atlanta, a 355,646-square-foot mixed-use project with best-in-class retail and creative office space in Atlanta’s Buckhead submarket.
JLL marketed the property on behalf of the seller, an institutional joint venture. Jamestown purchased the asset.
Completed in 2014, The Shops Buckhead Atlanta is leased to a variety of highly notable luxury and upscale shops, restaurants, entertainment and fitness tenants. The office space is fully leased to two tenants, Spanx’s global headquarters and No18, the first U.S. co-working location. Additionally, the property includes two prime development sites totaling 2.7 acres.
Surrounded by Atlanta’s most affluent neighborhoods and Buckhead’s thriving office market, The Shops Buckhead Atlanta’s location at 3035 Peachtree Road is strategically positioned north of downtown along Atlanta’s most prestigious address. The area has earned a WalkScore ® of 93, which is higher than any other location in Atlanta. The property serves the top demographics in the Southeast – 65,000 households earning an average annual household income of approximately $142,000 are within a three-mile radius.
The JLL Capital Markets team representing the seller was led by senior managing directors Richard Reid, Trey Morsbach, Barry Brown and Jim Hamilton and director Mike Allison. Coleman Morris, JLL director of Retail Agency Leasing, provided retail and leasing guidance to the seller.
“The irreplaceable location, demographic fundamentals and best-in-class construction position The Shops Buckhead Atlanta for long-term success with the ability to attract top local, national and international tenant prospects,” Reid said.