Coro Realty Advisors, LLC announces the purchase of a 7,124 square foot former Flag Bank off the corner of Forsyth Road and Rivoli Drive in Macon Georgia. The property is an outparcel in front of Rivoli Crossing, a 95,977 square foot neighborhood center purchased by Coro Realty and Harbour Retail Partners in July 2013.
Coro Realty believes that the addition of the outparcel will enable operational efficiencies in combined management of the outparcel and Rivoli Crossing. It also presents the opportunity for further value creation by improving the outparcel and leasing it to a retail or professional user. Robert Fransen, a partner at Coro Realty, noted, “We bought the outparcel well below replacement cost, and believe that this property, while small, offers the opportunity for material upside. We are excited to add it to our overall investment.”
Coro Realty Advisors, LLC was founded in 1997 and is synonymous in Atlanta and the Southeast with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape, and innovation, incorporating distinctive architectural designs and the latest in building trends and technology, Coro continues to demonstrate its leadership in the market with the successful execution of quality developments. The firm provides Asset Management, Property Management and Real Estate Advisory Services for a myriad of residential and commercial properties throughout the Southeastern United States.
For more information on this property contact:
Coro Realty Advisors, LLC
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia 30327