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Publix Super Markets Inc Acquires Matt Town Center Retail Property In Cumming, GA For $30M
SOLD
$30,000,000
+ 1
Georgia
See Similar DealsRetail81,077 SF
Sold
SOLD
Publix Super Markets Inc Acquires Matt Town Center Retail Property In Cumming, GA For $30M
5310 Matt Highway
See Similar DealsRetail81,077 SF
Sold
+ 1
Summary
GEORGIA
Asset Type:Retail
Price Per Square Foot:$370
Total Square Footage:81077 SF
Transaction Type:Sale
Publix Super Markets Inc. has acquired Matt Town Center, an 81,077-square-foot shopping center located at 5310 Matt Highway in Cumming, Georgia. The property was sold by Retail Planning Corp for a total price of $30 million. This retail asset sits on approximately 3.9 acres of land.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $30,000,000
- Address: 5310 Matt Highway, Cumming, GA
- Market: Cumming, GA
- Acres: 3.9
Todd Jones of Publix Super Markets Inc represented the buyer in this transaction, while Owen Brown of Retail Planning Corp represented the seller. The deal was facilitated by three brokers from JLL, namely Andrew Kahn, Brad Buchanan, and Jim Hamilton.
It is worth noting that Publix Super Markets Inc. purchased the shopping center for $370 per square foot, resulting in a total square footage of 81,077 square feet.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,600,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66
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