Sale of generational Atlanta retail center located in historic Brookhaven

ATLANTA, Sept. 5, 2024 – JLL Capital Markets announced today that it has facilitated the sale of Brookhaven Station, a 44,966-square-foot retail center in the heart of Atlanta, Georgia.

JLL worked on behalf of the seller, Hendon Properties, to procure the buyer, SITE Centers.

Brookhaven Station is generational asset located in the heart of Historic Brookhaven and proximate to the Buckhead submarket.  The center is directly adjacent to the highly sought-after Historic Brookhaven neighborhood which boasts an average household income exceeding $260,000. The shopping center is strategically positioned along Peachtree Rd. and benefits from high traffic counts and a dense daytime population of nearly 190,000 within a three-mile radius. Additionally, Lenox Square and Phipps Plaza, two of the top-performing shopping centers in the southeast, are just one mile away, and midtown and downtown Atlanta are just four miles away.

Brookhaven Station is a vintage asset, originally built in 1985 and recently renovated in 2022-2023. The retail complex spans over 4.6 acres of generational real estate in the heart of Atlanta. The retail center benefits from a high-performing and well-established tenant lineup of local favorites including Chick-fil-A, Fox Bros Bar-B-Q, Chop't and Mellow Mushroom. Impressively, the Brookhaven Station had nearly one-million visitors over the past 12 months and has maintained historical occupancy of nearly 100%.

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

“Brookhaven Station was one of the most highly sought after retail investment sales opportunities we’ve seen in 2024 due to the unique location, potential upside and lack of available retail properties for sale. Overall, southeast retail investment sale activity has been robust in 2024 due to strong operating fundamentals, positive job and population growth in sunbelt markets, as well as improving financing conditions compared to a year ago,” said Hamilton.

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.

For more news, videos and research resources, please visit JLL’s newsroom.

Hendon Properties is a full-service development, brokerage and management organization specializing in retail-oriented real estate.  The company focuses on community and regional shopping centers, malls and credit tenant build-to-suit developments.  The Hendon Properties team manages all aspects of brokerage and development including site selection, project budgeting, due diligence, engineering, architecture, construction and leasing.  For more information, visit hendonproperties.com.

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.