High-performing shopping center in Kennesaw trades for $13.85M

ATLANTA, Aug. 11, 2025 – JLL Capital Markets announced today that it has arranged the $13.85 million sale of The Shops at Butler Crossing, a 56,934-square-foot shopping center located in Kennesaw, Georgia, a fast-growing suburb within the Atlanta MSA.

JLL worked on behalf of the seller, Ziff Real Estate Partners. The buyer was Phillips Edison & Company.

The Shops at Butler Crossing is strategically positioned at 3139, 3161 and 3221 Cobb Pkwy NW in Kennesaw, benefiting from excellent visibility along Cobb Pkwy. with 36,000 vehicles per day.

The center is currently 94% occupied with a strong tenant roster that includes Planet Fitness, Advance Auto Parts, Buffalo's American Grille, Sola Salon, Jersey Mike's and Dunkin'. The tenant mix is 82% national and regional retailers, providing stable income with significant growth potential through mark-to-market opportunities.

The property benefits from its location in one of Atlanta's fastest-growing submarkets, with affluent demographics including average household incomes of $141,005 within a three-mile radius. The surrounding area has seen explosive residential growth with approximately 1,000 new homes delivered since 2020.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Director Brad Buchanan, Senior Managing Director Jim Hamilton, Director Andrew Kahn and Senior Analyst Anton Serafini.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Ziff Real Estate Partners (ZRP) is a vertically integrated owner and operator of neighborhood retail, self-storage, office and industrial properties that has been managing all aspects of the investment process since 1991. The company focuses on value-add, redevelopment and new development of assets, with Ziff Properties, Inc. (ZPI) serving as its in-house property management provider.

Phillips Edison & Company, Inc. (Nasdaq: PECO) is one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Albertsons and Ahold Delhaize. As of June 30, 2025, PECO managed 327 shopping centers, including 303 wholly-owned centers comprising 34.0 million square feet across 31 states and 24 shopping centers owned in three institutional joint ventures. PECO is focused on creating great omni-channel, grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time.