Phillips Edison & Company Acquires Retail Center At Cobb Parkway In Kennesaw For $13.9M

The asset involved in this transaction is a retail property located at 3139, 3161 & 3221 Cobb Parkway in Kennesaw, GA. It was sold for $13,900,000. The center spans a total of 56,934 square feet and was 94% leased at the time of sale, housing tenants such as Planet Fitness and Jersey Mike’s.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $13,900,000
• Square Footage: 56,934
• Address: 3139, 3161 & 3221 Cobb Parkway
• Market: Kennesaw, GA
• Price per Square Foot: $244
• Buyer: Phillips Edison & Company
• Seller: Ziff Real Estate Partners
• Brokers: Brad Buchanan, Jim Hamilton, Andrew Kahn & Anton Serafini - JLL

The deal was facilitated by JLL, representing the seller, Ziff Real Estate Partners. Phillips Edison & Company acquired the property, bringing in significant retail tenants and maintaining a high occupancy rate at the time of purchase.