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

Property Image
SOLD
$13,900,000
Andrew Kahn
Jim Hamilton
Brad Buchanan
+ 1

Georgia

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Retail170,802 SF
Sold
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Property Image
SOLD

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

3221 Cobb Parkway, 3139 Cobb Parkway & 3161 Cobb Parkway

See Similar Deals
Retail170,802 SF
Sold
Andrew Kahn
Jim Hamilton
Brad Buchanan
+ 1
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:Retail
Price Per Square Foot:$81
Total Square Footage:170802 SF
Transaction Type:Sale

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.

Players

Jim Hamilton
JLL
Jim Hamilton
27 deals$1.1B volume
BROKER
Brad Buchanan
JLL
Brad Buchanan
26 deals$808.3M volume
BROKER
Andrew Kahn
JLL
Andrew Kahn
14 deals$452.9M volume
BROKER
Anton Serafini
JLL
Anton Serafini
2 deals$128.9M volume(404) 995-2297
BROKER
JLL
JLL
BROKERAGE
Phillips Edison & Company
Phillips Edison & Company
BUYER

Details

SOLD
IMAGE: 08/12/2025 ADDRESS: 3139, 3161 & 3221 Cobb Parkway MARKET: Kennesaw, GA ASSET TYPE: Retail BUYER: Phillips Edison & Company SELLER: Ziff Real Estate Partners BROKERS: Brad Buchanan, Jim Hamilton, Andrew Kahn & Anton Serafini - JLL SALE PRICE: $13,900,000 SF: 56,934 ~ PPSF: $244 NOTE: Phillips Edison & Co. bought The Shops at Butler Crossing in Kennesaw, GA, for $13.9M; the 56,934-square-foot center was 94% leased, featuring tenants like Planet Fitness and Jersey Mike’s. JLL represented the seller, Ziff Real Estate Partners, in the deal.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$741,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,383.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,893.09
Annual Debt Service$790,717.10