Coro Realty Adds Varner Crossing to Advisory Portfolio
Kroger-anchored neighborhood shopping center 98% occupied
Atlanta (Jan. 29, 2020) - Coro Realty has acquired Varner Crossing, an 80,466 square foot grocery-anchored neighborhood shopping center with surface parking on 12-acres in Powder Springs, Ga.
The property is located at 4150 Macland Road in one of Cobb County’s fastest-growing areas. Varner Crossing is more than 98% occupied. It is anchored by a Kroger grocery with a Kroger Fuel Center and is complemented by an active array of businesses, including Subway, Marco’s Pizza and Macland Animal Hospital. Coro Realty will pursue a ground lease or build-to-suit opportunity for a vacant outparcel included in the deal.
“We expect Varner Crossing to be a solid and stable neighborhood center for years to come,” said John Lundeen, a Managing Partner of Coro Realty. “We are pleased to add it to Coro Realty’s grocery-anchored portfolio.”
Built in 2003, Varner Crossing is ideally situated on the “going-home” side of its intersection with direct access on both MacFarland and Lost Mountain Roads. The undeveloped one-acre outparcel along Lost Mountain Road is zoned for Neighborhood Commercial.
Coro will hold Varner Crossing for long-term cash flow and capital appreciation.
Coro Realty continues to be an opportunistic investor, having purchased a 44,764 square foot historic textile mill in Chattanooga, Tenn., two high-profile parking decks in downtown Atlanta and selling its stake in Inman Quarter, a Class-A mixed-use development in Atlanta in the last six months.
About Coro Realty
Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demostrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com.
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