For Immediate Release
April 20, 2010
Coro Realty Advisors, LLC announces the acquisition of Midtown Place Shopping Center on behalf of its partner JH Holdings, Inc., located at 650 Ponce de Leon Avenue. John Lundeen, President, believes that Midtown Place marries well with our philosophy of acquiring infill, urban properties with stable tenants. “We pursued this property due to its strong tenant profile and its excellent location in Atlanta’s Poncey Highlands neighborhood.” Midtown Place is located on the northeast corner of Ponce de Leon and Lakeview Avenue, across from City Hall East.
Midtown Place, a 256,712 square foot community shopping center was built in 1999 by The Sembler Company. Since its inception, the center has served the local community through its, upscale tenants such as The Home Depot, Whole Foods, PetSmart, Staples and Borders Books & Music. Midtown Place offers a well-balanced mix of retail, service and restaurant uses to the underserved and very dense Midtown population. The center serves as a community draw by bringing customers from the established neighborhoods of Virginia Highlands, Midtown, and Morningside.
Patti Pearlberg, Vice President/Asset Management, believes that the acquisition of Midtown Place was a natural given that it fits with our investment strategy to acquire class A properties - both apartments and retail – that generate strong cash flow.” Jackie Wammock, Leasing Vice President, believes that Midtown Place’s strategic location makes it a solid addition to Coro’s urban retail portfolio, attracting national, regional and local tenants.
For More Information Please Contact:
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia 30327