Branch Properties begins next phase of apartment complex

Real estate developer Branch Properties, LLC, and general contractor Summit Contracting Group, Inc., have begun the third phase of a mixed-use residential development on 50 acres in northwest metro Atlanta.

“West Village is a vibrant, master-planned community being developed to serve the burgeoning rental market in affluent Cobb County,” said Jack Haylett, Senior Vice President of Branch Properties. “We continue to remain active on the multifamily front in communities where there is strong demand for thoughtful development and quality construction.”

Phase III of West Village, located in Cobb County, Ga., a bedroom community northwest of Atlanta, will include 313 apartments and 470 parking spaces on nine acres. The apartments will range in size from 660-square-foot studios to 1,484-square-foot, three-bedroom, two-bath apartments. Branch Properties is the owner and developer, and Summit Contracting Group is the general contractor.

West Village has succeeded in large part due to Cobb County’s thriving economy and 10.8% population growth since 2010. Branch Properties assembled the 50-acre site in 2005, developing 292 Class A multifamily units and 68,000 square feet of retail in the first phase of construction.

Branch Properties completed the second phase of West Village in 2011, adding another 188 apartments, before selling to MidAmerica Apartment Communities in 2014. West Village received a “Development of Excellence” Award from the Atlanta Regional Commission in 2007.

Amenities will include a 3,000-square-foot public library, as well as a fitness center, dog park, pool and courtyard for residents. Construction is expected to be complete in early 2021 with the first group of apartment units coming on the market in Spring 2020.

Branch Properties Acquires Two Grocery-Anchored Shopping Centers for $57 Million

Roswell, Ga. and Leland, N.C. — Branch Properties has acquired two grocery-anchored shopping centers in the Southeast. The first, Roswell Market Place, is a 95,522-square-foot shopping center anchored by Sprouts Farmers Market. Branch Properties bought the asset for $32 million. The center, which is located at 10800 Alpharetta Highway, 24 miles north of downtown Atlanta, was built in 1986 and renovated two years ago. Roswell Market Place was 88 percent leased at the time of the sale.     

 The second property is Waterford Village, a 108,249-square-foot shopping center anchored by Harris Teeter that was purchased for $25 million. Waterford Village sits on 15.8 acres at 2013 Olde Waterford Way in Leland, North Carolina, nine miles west of downtown Wilmington. The asset was 90 percent leased at the time of the sale.

Tropical Smoothie Cafe one of four new restaurants opening in East Brainerd

New restaurants are flowing into the Waterside retail center in East Brainerd — at least four are to open by the first part of 2019 — and the owner of one of them cites a pair of key anchor stores.

“People love Publix. Same thing with REI Co-op,” said Paul Neumaier, co-owner of the Tropical Smoothie Cafe slated to open Thursday at 2380 Lifestyle Way.

Waterside, after a slow time gaining traction earlier this decade off Shallowford Road near Interstate 75, is about 90 percent leased up, according to developer Branch Properties of Atlanta.  Read full story

Branch Signs Three Tenants to Westridge Square Center in North Carolina

Greensboro, N.C. — Branch Properties LLC has signed three tenants to Westridge Square, a 215,000-square-foot shopping center in Greensboro.

The Atlanta-based real estate company originally acquired the center and its seven outparcel buildings in 2015, and is currently modernizing and re-tenanting the property. Planned renovations include raising the parapets and upgrading the building materials to include brick, metal and wood.

Read full story

Redeveloped Florida Center Reaches Capacity

Branch Properties announced that its Island Walk at Palm Coast in Florida is now 100% leased following a $40 million redevelopment.

Prior to the re-do, the 200,000 sq. ft. center had minimal visibility from Palm Coast Parkway. It now features an open concept and a new façade. Publix added 56,000 sq. ft. to its supermarket there, and two outparcels were added for Chase Bank and IHOP.    Read full story

Drake’s, Cyclebar, Havertys and more headed to Village at Waterside near Hamilton Place

One of the newest restaurants slated to open at the Village at Waterside retail center near Hamilton Place mall aims to curb a variety of cravings ranging from burgers to tacos and even sushi.

The eclectic mix makes up the menu at Drake’s, a part of the Lexington, Kentucky-based Bluegrass Hospitality Group, and includes traditional American-style pub food, including hand-pressed burgers, mini sandwiches, Sriracha wings, build-your-own tacos and an extensive sushi menu, said Leela Foley, a spokesperson for Bluegrass Hospitality Group.

The restaurant plans to open for business in January at the retail center and 162,000 square feet of commercial development taking shape north of Shallowford Road along Interstate-75. Read full story

Branch Properties Acquires Center in Affluent Huntsville Neighborhood

ATLANTA – Branch Properties, an Atlanta-based private real estate investment firm, recently closed on the acquisition of a TJ Maxx, Michaels, and Stein Mart-anchored neighborhood shopping center located in Huntsville, AL.  Situated in the densely-populated and affluent suburbs south of the Huntsville CBD, the center was purchased from Inland Real Estate Corporation.

Westbury Square is a 120,409 square foot neighborhood center anchored by high-performing TJ Maxx, Michael’s, and Stein Mart stores located in Huntsville, Alabama.  The shopping center includes national tenants such as Metro Diner, Chicken Salad Chick, Captain D’s, BB&T, Moe’s, Jenny Craig, Jimmy John’s, and Cricket Wireless, as well as local institutions such as Rolo’s Café and Surin of Thailand.  The center is well-located on 12.10 acres in the dense and affluent suburbs south of Huntsville.  It is situated along the area’s predominate north-south arterial road, Memorial Parkway aka US 231 (71,500 Vehicles Per Day), at its intersection with Airport Road (31,000 Vehicles Per Day).  Within a 3-mile radius of Westbury Square, there is a population of over 48,500 people with an average household income of $70,400, well-above the national average.

Branch Properties Acquires a Pair of Kroger-anchored Centers in Lexington

Kroger Pic(2)

ATLANTA – Branch Properties, an Atlanta-based private real estate investment firm, recently closed on the acquisition of a pair of Kroger-anchored neighborhood shopping centers located in Lexington, KY.  Situated in the densely-populated suburbs south of Lexington, the centers were purchased from Weingarten Realty Investors and are anchored by high-performing Krogers.

Tates Creek Centre is a 196,028 square foot Kroger-anchored neighborhood center located in Lexington, Kentucky.  The shopping center includes national tenants such as Rite Aid, PNC, KFC, MOD Pizza, Taco Bell, and Subway, as well as local institutions such as Ramsey’s, Logan’s of Lexington, Rivard Fine Jewelry, and Proof Fitness. The center is well-located on 25.57 acres in the dense and affluent suburbs south of Lexington.  It is situated along the area’s predominate ring road, Man O War Boulevard (30,000 Vehicles Per Day), at its major intersection with Tates Creek Road.  Within a 3-mile radius of Tates Creek Centre, there is a population of over 90,000 people with an average household income of $75,000, well-above the national average.

Millpond Center is a 124,498 square foot Kroger-anchored neighborhood center located in Lexington, Kentucky.  The shopping center includes national tenants such as Workout Anytime, Pizza Hut, and Subway, as well as local institutions such as Banners Pub. The center is well-located on 16.80 acres in the dense and affluent suburbs southwest of Lexington.  It is situated along the area’s predominate ring road, Man O War Boulevard (26,000 Vehicles Per Day), at its intersection with Boston Road.  The property is located just off of the area’s primary north-south retail node, Nicholasville Road.  Within a 3-mile radius of Millpond Center, there is a population of over 78,000 people with an average household income of $84,000, well-above the national average.

For leasing info, please contact Richard Wiles (404-832-8924 or rwiles@branchprop.com).

Branch Properties Picks Up Walmart Anchored – Mercury Plaza

aerial image

98,000-SF Shopping Includes Development Opportunity

Atlanta-based real estate investment firm Branch Properties struck a deal with Olshan Properties out of New York City to acquire the Mercury Plaza in Hampton, VA for an undisclosed amount.

Anchored by Walmart Neighborhood Market and Marshalls, and shadow-anchored by Burlington Coat Factory, the 98,066-square-foot shopping center is located at the intersection of W. Mercury Blvd. and Power Plant Parkyway in Hampton’s Mercury Central Retail corridor.

In addition to its anchor tenants, the center is home to five national tenant outparcels and features excess land that can be developed.

Branch Properties Acquires Bartlett Town Center

Post photo (Kroger)

Branch Properties, LLC continues to build its portfolio with properties in the Southeast

ATLANTA – Branch Properties, Atlanta-based private real estate investment firm, recently purchased Bartlett Towne Center, a 192,624 SF grocery-anchored community center in Bartlett, TN. Located directly outside of Memphis at 5985 Stage Road, the center was purchased from Weingarten Realty and is anchored by Kroger, Petco and Dollar Tree. Other notable tenants include Shoe Carnival, CATO Fashions, Rent-A-Center, Mattress Firm, AT&T, FedEx Office, H&R Block, GameStop, SuperCuts, GNC, Sally Beauty, UPS Store and Little Caesar’s.

Well-positioned at the intersection of Bartlett Boulevard and Stage Road, a main intersection in the Bartlett submarket, the center serves the greater Bartlett community well. Easily accessible by residents and visitors alike, Bartlett Towne Center sits approximately 3 miles off of I-40, the primary interstate that connects Bartlett to the larger Memphis, TN metro area.

In recent months, Branch Properties purchased Village of Waterside (Chattanooga, TN) and Village Shoppes at Gainesville (Gainesville, GA) and is enthusiastic about its most recent acquisition. “We continue to be committed to the strategy of acquiring and developing grocery anchored shopping centers in the Southeast. Bartlett Towne Center’s tenant mix serves the Bartlett area well and we are pleased to be a part of the community,” says Jesse Shannon, Chief Investment Officer for Branch
Properties.

For leasing info, please contact Robert Sloan (901.334.5703, robert.sloan@tscg.com) or Dustin Jones (901.581.5049, dustin.jones@tscg.com).