NEW YORK, July 24, 2014 /PRNewswire/ -- Olshan Properties, one of the country's leading private owners, developers and managers of commercial real estate today announced it has acquired The Shoppes at Webb Gin, a vibrant 351,000-square-foot mixed-use retail center located in Snellville, GA outside of Atlanta.
Olshan Properties purchased The Shoppes at Webb Gin from a joint venture between institutional investors advised by J.P. Morgan Asset Management and Bayer Properties. Eric Zimmermann and Miles Theodore of Eastdil Secured represented the seller.
This latest transaction advances Olshan Properties' objective of expanding its portfolio with high-quality retail acquisitions nationwide, as well as reinforces its presence in metropolitan Atlanta's commercial property market. The firm owns a 306,000 square foot retail power center located in northwest Atlanta and, just last year, acquired and began renovations on the 277-key Sheraton Suites Galleria.
"Olshan Properties is thrilled to have acquired The Shoppes at Webb Gin, which is an excellent addition to our growing portfolio in the Atlanta market," said Andrea Olshan, CEO of Olshan Properties. "Given our decades of experience in this region, The Shoppes at Webb Gin complements both our existing retail properties and our operational expertise extremely well. It is already one of the most popular retail centers in this trade area, with limited competition and a diverse collection of high quality offerings including grocery, apparel, specialty, discount, dining, as well as office space. We are excited to continue to strengthen the already impressive tenant roster at the property, most recently bolstered by the opening of Sprouts Farmers Market this month."
Located at the intersection of Scenic Highway 124 and Webb Gin House Road, The Shoppes at Webb Gin consists of 333,795 square feet of retail space with 17,210 square feet of office space and additional development opportunities. The retail center is anchored by Sprouts Farmers Market, Barnes & Noble and DSW. The Shoppes at Webb Gin stands as one of the newest and most dynamic retail shopping centers in the area.
About Olshan Properties
Olshan Properties, formerly known as MPI - Mall Properties, Inc. is a privately owned real estate firm specialized in the development, acquisition, leasing and management of commercial real estate for 55 years. The close integration of investment and operating capabilities has given Olshan Properties a reputation as one of the leading private owner/operators of commercial real estate in the country.
Olshan Properties currently owns and/or manages, individually or with its affiliated companies, a diverse portfolio of commercial properties including Retail, Hotel, Office, and Residential in eleven states. For more information, click here.
SOURCE Olshan Properties