233,930-SF Shopping Center Sells for $68M

ATLANTA-North Miami Beach-based Equity One has acquired the 233,930-sf Buckhead Station shopping center at One Buckhead Loop for $68 million.

The shopping center, situated on 11.27 acres in the Buckhead neighborhood, is anchored by Bed Bath & Beyond, TJ Maxx, DSW, Toys R Us and Old Navy. It was 90% leased at the time of the sale. It is located approximately one block from the 152,239-sf Piedmont Peachtree Crossing shopping center at 3330 Piedmont Rd., which is also owned by Equity One.

According to Equity One, 243,750 people live within a five-mile radius of Buckhead Station, with a median household income of $74,740. “Buckhead Station is a great addition to our portfolio,” says Equity One president and CEO Jeff Olson. “The strength of this high-income, infill location is reflected in the high sales that tenants report.”

As of the Dec. 31, Equity One owned or had interest in 179 properties consisting of 166 shopping centers with approximately 17.9 million sf, six development parcels and seven non-retail properties. The company owns 24 shopping centers in the Atlanta area.