REAL ESTATE

InvenTrust acquires Georgia center for $44 million

BY Al Urbanski

The Kroger-anchored Sandy Plains Centre in Marietta, Ga., has been purchased by InvenTrust, one of the busiest acquirers of grocery-anchored open-air centers.

The purchase price for the 124,000-sq.-ft. center was $44.2 million.

Through this transaction, we expand our existing shopping center portfolio in Atlanta. This asset’s location in Marietta affords favorable demographics and compelling opportunities for future revenue growth,” said InvenTrust senior VP Christopher Covey.

Other tenants at Sandy Plains include AT&T, Great Clips, Jersey Mike’s, OrangeTheory Fitness, and MassageEnvy.

The deal, closed in the final week of December, put InvenTrust’s 2018 acquisition tally at $220 million.

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