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AmREIT Buys Alpharetta Commons, Publix-anchored Shopping Center in Atlanta

AmREIT, a fully-fledged self-managed and vertically integrated real estate investment trust, declared that it has bought a 94,544 FT2 Publix-anchored shopping center known as Alpharetta Commons, located at Alpharetta submarket in Atlanta, Georgia.

The multi-tenant, grocery anchored shopping center is fully rented and occupied. Publix which anchors the shopping center occupies around 65,146 FT2 area and an in-store cooking school occupies a part of the area in addition to other regional and local convenience retail merchants.

Alpharetta Commons shopping center, is sited between two signal intersections on Kimball Bridge Road and State Bridge Road with a passing vehicle population of around 66,000 cars every day. The business area hosts around 3,600 trade houses which include Siemens, HP, Verizon, GE and IBM. There are more than 81,000 people inside three mile radius from the shopping center in households that earn an income of more than $146,000 to patronize the shopping center.

According to Tenel Tayar, Chief Investment Officer of AmREIT, the company with its unique Corner plan set through the 5D framework concentrating on quality shopping centers, found Alpharetta Commons appealing. He explained that the strategic placement of the store along with its combination of grocery-anchored tenants will surely improve cash flow and total income from the property in a period of time.

Source: http://www.amreit.com/

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

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