November 14, 2018
Fort Oglethorpe, GA. – Transwestern’s Southeast Investment Services Group today announces it closed the $16.5 million sale of Parkway Plaza, a 134,047-square-foot retail center at 125 – 234 Parkway Drive in Fort Oglethorpe, Georgia. Transwestern Vice President Fred Victor provided disposition services on behalf of CBL Properties and completed the cash sale to United Properties, a privately held real estate investment group based in East Meadow, New York.
“The Parkway Plaza sale allowed CBL to capitalize on strong market conditions for a favorable return, while United Properties added a high-quality asset to its growing portfolio of multitenant shopping centers in the Southeast U.S.,” said Victor.
Developed in 2015 by CBL, Parkway Plaza is 100 percent leased and anchored by popular retailers Hobby Lobby, Marshalls, Petco, Rack Room Shoes, and Ross Dress for Less. Positioned adjacent to Walmart in the robust Chattanooga metropolitan area, the center benefits from a synergistic, multistate customer base.
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Typhanie Stewart
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typhanie@stir-communications.com
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