Newswire Mann Report

Jamestown Acquires Two Grocery-Anchored Shopping Centers

Fountain Oaks (Photo courtesy of Jamestown)

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.