Publix Super Markets Inc Acquires Matt Town Center Retail Property In Cumming, GA For $30M
5310 Matt Highway
$30,000,000
$370/SF
Building Size
81,077 SF
Asset Type
Retail
Closing
Dec 22, 2023
About this deal
AI
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.
On the Map
$30,000,000
$370/SF
Retail
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Cumming Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93