Global investment and management firm Jamestown has added Fountain Oaks in Sandy Springs, Georgia and Tamarac Town Square in Tamarac, Florida to its grocery-anchored shopping center portfolio. The acquisitions expand the firm’s current grocery-anchored shopping center portfolio to nine properties across Georgia and Florida totaling approximately 1.4 million square feet.
Fountain Oaks is an approximately 160,000-square-foot center anchored by Kroger. Built in 1988 and renovated in 2003, Fountain Oaks is 92% leased to 38 tenants. Tamarac Town Square is an approximately 124,000-square-foot, Publix-anchored center. The center is currently 84% leased to 19 tenants.
“Grocery-anchored shopping centers have been a focus area for Jamestown for decades,” said Michael Phillips, president of Jamestown. “Our vertically integrated capabilities and consumer-centric approach to real estate are differentiators within the space. 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.”
While known for its large, mixed-use developments and adaptive reuse projects, Jamestown has invested in community-focused, grocery-anchored shopping centers for over 30 years. The firm has owned and operated more than 20 grocery-anchored shopping centers in its history and the sector continues to be a focus area.
JLL represented Edens in the sale of Fountain Oaks and Regency Centers in the sale of Tamarac Town Square.
