Jamestown acquires two grocery-anchored centers
Atlanta-based real estate investment and management firm Jamestown has announced two new grocery-anchored center acquisitions.
The firm has acquired Fountain Oaks, a 160,000-sq.-ft. center anchored by Kroger in Sandy Springs, Ga., a northern suburb of Atlanta. Originally built in 1988 and renovated in 2003, Fountain Oaks is currently 92% leased to 38 tenants.
Jamestown also acquired Tamarac Town Square, a 124,000-sq.-ft. Publix-anchored center in in Tamarac, Fla. that is northwest of Fort Lauderdale and south of Boca Raton. The center is currently 84% leased to 19 tenants.
The acquisitions expand Jamestown’s grocery-anchored shopping center portfolio to nine properties in the two states that total approximately 1.4 million sq. ft. Jamestown has invested in community-focused, grocery-anchored shopping centers for over 30 years and has owned and operated more than 20 grocery-anchored shopping centers in its history.
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Fountain Oaks. Image courtesy of Jamestown. -
Tamarac Town Square. Image courtesy of Jamestown.
“Our vertically integrated capabilities and consumer-centric approach to real estate are differentiators within the space,” said Jamestown president Michael Phillips. ”Our aim is to create third places where people come together and feel connected, and grocery-anchored shopping centers hold the potential to be fixtures of the communities they serve.”
Other Florida centers in Jamestown’s portfolio include Publix-anchored Village Commons in West Palm Beach, Doral Commons in Doral, and Country Club Plaza in Miami Gardens. Its presence in Georgia includes the Whole Foods-anchored Hammond Exchange and Parkside Shops in Sandy Springs and the Kroger-anchored Parkaire Landing in Marietta.
As of Dec. 31, 2023, Jamestown owned assets valued at $11.6 billion and scattered across major markets in the U.S., Latin America, and Europe.