NEW ORLEANS, Feb. 1, 2016 /PRNewswire/ -- In two separate transactions, PMAT acquired two grocery anchored shopping centers in the Atlanta, GA market in December 2015—the company's third grocery anchored acquisition in the MSA during 2015.
East Cherokee Village is a 128,000 SF shopping center anchored by a 45,000 square foot Publix and features outparcels with Chase Bank and Workout Anytime. The center is located in the dense and affluent North Atlanta suburb of Woodstock, GA at the signaled intersection of Holly Springs Road and East Cherokee Road.
Cherokee Commons is a 104,000 SF shopping center anchored by a 67,000 square foot Kroger and also features outparcels with a Kroger Fuel Center and Wendy's. The center is located on Highway 92, a main East-West commercial corridor between I-75 and I-575 near Bells Ferry Road in Acworth, GA, a suburb in North Atlanta.
PMAT will execute its standard asset repositioning strategy including significant site and building renovations, hands-on and personal management, and an owner led leasing plan to renew successful existing tenants and attract additional quality tenants to these centers.