PGM Properties and Coro Realty Advisors to Develop Publix-anchored Center
ATLANTA - June 26, 2015 - PGM Properties, LLC, a Brentwood, TN-based multifamily and retail developer, and Coro Realty Advisors, LLC, an Atlanta-based retail owner and operator, will develop a new Publix-anchored shopping center in Muscle Shoals, Alabama. PGM Properties and Coro Realty recently completed the acquisition and re-entitlements of the former Highland Park Baptist Church site. The approximately nine acre site at the corner of Woodward Avenue and East 6th Street will be redeveloped into a 45,600 square foot Publix, 13,160 square feet of small shop space and one outparcel.
“We are excited to bring this high-quality development to Muscle Shoals,” said Dudley Parker, managing partner of PGM Properties. “We feel that it will fill an important neighborhood grocer need.” The nearest Publix is approximately eight miles away, in Florence, Alabama.
PGM Properties sourced and secured the property in the winter of 2013. In 2014, PGM Properties brought Coro Realty into the deal as a partner to ensure successful execution. The development, to be called Muscle Shoals Commons, builds on PGM Properties’ long-track record of grocery-anchored development. It will be the second joint venture between PGM Properties and Coro Realty.
PGM Properties is a full-service commercial development, leasing and management company focusing on quality retail shopping centers. With over 75 years of direct commercial real estate experience among its four principals, PGM Properties possesses the dedication and experience to carry projects from inception to completion.
Coro Realty Advisors, LLC was founded in 1997, and is synonymous in Atlanta and the Southeast with intelligent real estate development and investment. The firm engages in Investment, Asset Management, Leasing and Property Management for a myriad of residential and commercial properties throughout the Southeastern United States.