Bham CRE firm acquires Georgia retail center for $4M

Located off Rome Highway, the 30,600-square-foot retail center is anchored by Dollar Tree and home health care services company, Amedisys, as well as nine other national and local service and food-centric tenants.

“This asset is very well located not only for the Cedartown community but Polk County at large,” said Jackson Stewart, Sanders Capital executive vice president and general counsel. “These smaller markets reward a collection of value and convenience-oriented tenants that is strategically located.” The Cedartown retail center is located near Walmart, Home Depot, Tractor Supply and Zaxby’s. “With any market we are evaluating for investment, we look for centers that are proximate to several ‘funnels’ that draw customers from a larger area,” Stewart said.

Founded five years ago, Sanders Capital develops and acquires retail centers, office buildings, strategic land and light industrial properties throughout the Southeast and Midwest. The deal comes on the heels of the firm’s renovation of Alabama Crossings, a 27,800-square-foot neighborhood retail center in Fort Payne that it had acquired for $4.2 million in February. Other notable deals include the firm’s acquisition of three corporate hangars at Bessemer Municipal Airport for $1.3 million last year and its in 2017.