Abbotts Village

Johns Creek, Georgia

 

    Abbott’s Village represented the unique opportunity to acquire a Publix anchored center in an extremely affluent and dense Atlanta, GA suburb with strong projected annual growth over the next 5 years. The center comprises a total of 109,586 square feet and is anchored by a 56,146 square foot Publix with growing sales that has been in the center since 1995. 

    The center sits directly on the corner of Jones Bridge Road and Abbotts Bridge Road with combined traffic counts of approximately 45,000 vehicles per day. WIthin a 3 mile radius live 86,232 people with average household incomes close to $140,000. 

     PMAT was able to purchase this asset from a special servicer for a significant discount to the true market value. While the average Publix center in the area is 93% occupied, Abbotts Village was only 84.8% occupied. 

    PMAT is determined to apply an aggressive, hands-on leasing approach to create our own demand by specifically targeting key use categories and tenants that are missing at the center. In addition, all factors of this approach will enjoy the benefit of our renovating the center’s parking lot, roof, lighting, and other deferred maintenance items which will help to communicate the immediate changes of new ownership and shift the current inertia.