NEW YORK (BUSINESS WIRE) - The joint venture (“JV”) partnership between ShopOne Centers REIT Inc. (“ShopOne”), Pantheon and a leading global institutional investor today announced it has acquired the 98,224 square foot Kroger-anchored Sharon Greens neighborhood shopping center located in burgeoning and highly desirable Forsyth County, Georgia. Situated in Cumming, part of the Atlanta MSA, Sharon Greens becomes the third asset the JV has added in the state since December 2022, and brings the total number of grocery-anchored shopping centers in its portfolio to 13, all acquired within the last 18 months.

In addition to Kroger, Sharon Greens features a mix of 20 highly synergistic service orientated and daily-needs retailers or dining concepts, including Chase Bank, Pet Supplies Plus, Heartland Dental Care, UPS Store, Kumon Math & Reading Center, Great Clips, and Papa John’s. The center is 100% leased and surrounded by 61,489 people, with an average household income of $202,823 within a 3-mile radius. Moreover, the population of Forsyth County has grown by more than 50% since 2010 and is expected to grow at a rate of more than double the state average over the next five years.

“We are pleased to further grow our presence in the Atlanta MSA with the recent acquisition of Sharon Greens. Anchored by Kroger for more than 20 years, Sharon Greens is an institutional-quality shopping center that has a demonstrated history of success while serving the daily shopping needs of local consumers,” stated Chris Reed, Chief Investment Officer at ShopOne. “We will continue to seek grocery-anchored acquisition opportunities in high-growth markets like this one, as well as those that exhibit similar characteristics throughout the country.”

Sharon Greens is strategically positioned at the intersection of Peachtree Parkway (GA-141) and Sharon Road, and benefits from daily traffic counts of roughly 60,000 vehicles per day. Several major employers are also located in proximate to the asset, including Northside Hospital, Tyson Foods, Scientific Games International, Koch Foods and Siemens Industry.

The JV has more than $1 billion in total investment capacity and a $225 million senior credit facility.

About ShopOne
ShopOne Centers is a fully integrated investment, management and operating platform focused exclusively on designing and executing strategies in U.S. grocery-anchored neighborhood shopping centers through joint venture partnerships with institutional investor clients. The Company’s retail centers are located in established trade areas and are supported by a diverse mix of non-discretionary, value-oriented and grocery retailers. ShopOne is committed to maximizing the value of its portfolio by capitalizing on embedded growth opportunities through driving rents, increasing occupancy and pursuing value-enhancing redevelopment opportunities. To learn more about ShopOne, please visit ShopOne.com.

About Pantheon
Pantheon is a leading global private markets specialist currently investing on behalf of more than 1,000 investors, including public and private pension plans, insurance companies, endowments, foundations and private wealth clients. Founded in 1982, Pantheon has an established reputation across private market asset classes, covering all stages and geographies, and provides investment solutions that include flagship fund offerings, as well as integrated programs and customized solutions.

Article on Business Wire:

https://www.businesswire.com/news/home/20230817761406/en/ShopOne-and-its-JV-Partners-Continue-Adding-Scale-in-Georgia-Acquiring-Kroger-Anchored-Sharon-Greens-Shopping-Center-in-the-Atlanta-MSA