Achieves over 75% Return on Equity
Snellville, GA – January 13th, 2017 – Cohen Equities announced today it has sold Centerville Plaza, a 15,000 square foot shopping center at 4017 Annistown Road, for a 75% return on equity. Brian Munn of Marcus & Millichap represented Cohen Equities in the deal.
Cohen Equities acquired the asset in May of 2014 at 46% occupancy. Over the past year, ownership executed new leases with The Body Project personal training studio, Wing and Burger restaurant, Express Smoke and Vape Shop, and Classics Barber. New leases were also negotiated with existing major tenants. Centerville Plaza is situated on the intersection of Highway 124 and Anniston Road. The shopping center is shadow anchored by Walmart Supercenter, Dollar Tree and Cato.
“Our asset managers did an exceptional job here,” said Meir Cohen, Chairman and CEO of Cohen Equities. “They identified the property’s initial weaknesses and worked with tenants and our leasing team at Skyline Seven Real Estate to bring the right tenants and re-negotiate key leases. This property is now fully leased with a diverse tenant mix, and I am pleased with the return.”
About Cohen Equities
Cohen Equities is a national real estate investment firm that pursues commercial assets that present an opportunity to add value in both secondary and gateway markets. The company has successfully invested in and improved more than 9 million square feet of real estate across the United States. Led by Meir Cohen, a real estate veteran with more than 30 years of experience, Cohen Equities creates significant value through active management, leasing and repositioning activities. For more about Cohen Equities, please visit cohenequities.com.