August 19, 2020 | Jessica Caron
August 19, 2020 | THE PALOMAR GROUP
GEORGIA – The Palomar Group announced today that they’ve closed the $26 million sale of National Hills Shopping Center, a 159,885 square foot center anchored by Fresh Market and Electrolux located in Augusta, GA. In the midst of the current market conditions, the Palomar Group approached the transaction as they do every other transaction, with an intense focus on the client’s objective of completing the transaction in a timely manner at the originally agreed on deal points.
The Palomar Group solicited offers off-market on behalf of SLATE RETAIL REIT, the confidential Buyer acquired the deal free and clear of any existing debt. The Palomar Group sold the center in 2017 to Slate and helped them execute on a plan of stabilization during their three year hold period.
The Palomar Team representing the seller was led by partners David Rivers, Ryan McArdle and Steve Collins. Palomar is an investment sales firm based out of Augusta, GA that handles transaction throughout the entire southeast and beyond. The team has worked on over 9 million square of retail and multifamily deals totaling over $1 billion in transaction volume. Reach out to a Palomar team member today for any needs you may have in the commercial real estate space.
The Palomar Group was featured as one of the CoStar Power Broker Quarter 2 Winners for the sale of National Hills Shopping Center.