September 9, 2021
Ackerman & Co. Purchases 71,839-SF Uptown Square for $8.375 Million
Retail Center in Fayetteville GA Is Anchored by Goodwill Store and Harbor Freight Tools
ATLANTA GA, September 9, 2021 – Ackerman & Co. has purchased Uptown Square, a 71,839-square-foot neighborhood retail center in Fayetteville, Ga., for $8.375 million from SunCap Real Estate Investments. Anchored by a Goodwill Store & Donation Center and Harbor Freight Tools, Uptown Square is 100 percent leased.
Ackerman & Co. was self-represented in the purchase, and seller SunCap was represented by Craig Taylor of CBRE.
Located at 1415 Highway 85 North and built in 1999, Uptown Square shares a traffic light with the 1.5-million-square-foot Fayette Pavilion, one of the largest open-air shopping centers in Georgia. In addition to Goodwill and Harbor Freight, the tenant roster at Uptown Square includes, T-Mobile, The UPS Store and a variety of specialty retailers.
“We’re pleased to acquire this 100 percent leased retail center featuring a strong internet-proof anchor in Goodwill and Harbor Freight Tools, along with an excellent mix of national and regional retailers,” said Leo Wiener, President of Ackerman Retail, a division of Ackerman & Co. “Ackerman continues to pursue the acquisition of retail properties that match our investment strategy. We feel that the current conditions in the retail sector present opportunities to find value relative to other product classes.”
Added Ackerman & Co. President Kris Miller: “With its increasing residential density and expanding employment base, demand for retail will continue to grow in Fayetteville. The movie industry is a major presence. Nearby Trilith Studios is the second-largest film and television studio in North America, and the residential community across the street from the studios, Trilith homes, will eventually be home to 5,000 residents.”
The Fayetteville Goodwill store is part of Goodwill of North Georgia, which operates 100-plus stores and donation centers across 45 counties. Established in 1977, Harbor Freight Tools offers an assortment of quality tools and equipment at more than 1,200 locations in 48 states.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired 37 million square feet of office, medical, industrial, retail and mixed-use space, has 4.5 million square feet under management, and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com