California company buys Kroger-anchored shopping center in TuckerCofer Crossing in Tucker. Photo obtained via Google Maps
Tucker, GA — A private investor based in Ontario, California has bought Cofer Crossing in Tucker for $20 million.
Hanley Investment Group Real Estate advisors brokered the sale, according to a press release. Cofer Crossing is anchored by a Kroger grocery store and a HomeGoods store. It is a 136,139 square foot shopping center and is fully leased, the press release says.
“Hanley Investment Group’s President Ed Hanley and Executive Vice President Kevin Fryman, along with ParaSell, Inc., represented the 1031 exchange buyer, a private investor based in Ontario, California,” the press release says. “The seller, a partnership between SITE Centers Corp. and Madison International Realty, was represented by the JLL Retail Capital Markets team led by Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan and Associate Taylor Callaway.”
Cofer Crossing was constructed in 1999. It’s other notable tenant is Dollar Tree and “a line-up of national and regional tenants that have performed exceptionally over the past 12 months,” the press release says. Kroger also recently bought the former Shell gas station located at the entrance to the shopping center and turned into a Kroger Fuel Center, the press release says.
“The buyer was attracted to Kroger’s below-market rent and the fact that Cofer Crossing is the #1 most visited shopping center within five miles and 100% of the tenants paid their rent during 2020,” Fryman said in the press release.
The shopping center is located on 16.51 acres at 4367 Lawrenceville Highway.
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