NEW YORK—New York City-based Rothenberg-Rosenfield Inc. has acquired Marietta Trade Center, a retail property on Cobb Parkway (Highway 41) between South Marietta Parkway and Roswell Road (Highway 120) in Marietta, Ga. The acquisition of the 316,000-sq.-ft., Wal-Mart Supercenter-anchored shopping center marks the firm’s largest purchase and increases its Georgia retail portfolio to more than 500,000 sq. ft.
Rothenberg-Rosenfield purchased the property from EDENS, represented by Richard Reid, HFF, for $32.8 million.
“Marietta Trade Center is a highly-trafficked, stable, cash-flowing asset that delivers a return to investors from day one – making it a great addition to our growing Southeast retail portfolio,” said Josh Rosenfield, director of property acquisitions, Rothenberg-Rosenfield.
Marietta Trade Center is situated in close proximity to Southern Polytechnic State University and Dobbins Air Force Base. The center offers visibility from Cobb Parkway and six access points.
“We expect to maintain the shopping center’s high level of occupancy with help from strong anchor tenants and shop tenants who meet the needs of the surrounding area’s demographics.” continues Rosenfield. Not only is this one of the highest grossing Wal-Mart Supercenters in Georgia, it’s one of only three locations in the state that is shadow-anchored by a Sam’s Club.
Currently 97 percent leased, Marietta Trade Center includes a blend of retailers. Colliers International leases and manages Marietta Trade Center.