Matt Shulman Of Ardent Companies Acquires Retail Property In Kennesaw For $51.75M

The property asset involved in this transaction is a retail space located at 400 Ernest West Barrett Parkway in Kennesaw, GA. The asset has a total square footage of 1,300,000 and was acquired for a total sale price of $51,750,000, equating to a price per square foot of $40.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $51,750,000
• Buyer: Matt Shulman - Ardent Companies
• Seller: Mike Kohan - Kohan Retail Investment Group
• Square Footage: 1,300,000
• Price per Square Foot: $40
• Market: Kennesaw, GA

The acquisition was executed through a foreclosure auction, allowing Ardent Companies to take control of most of the Town Center at Cobb, while excluding the JCPenney and Macy's parcels. This marks the second foreclosure of the property since 2021, indicating a trend of declining value since Kohan Retail Investment Group's previous purchase in 2023 for $71 million.