Newmark Knight Frank's Southeast Capital Group Negotiates $19.5 Million Price in Sale of Banks Crossing in Fayetteville

ATLANTA, Ga. --- The Southeast Capital Group at Newmark Knight Frank in Atlanta recently negotiated the sale of the 256,930-square foot Banks Crossing retail center at 134 Banks Crossing in Fayetteville, Ga. for $19.5 million.

Whitney Knoll, who heads the Southeast Capital Group at Newmark Knight Frank, brokered the transaction representing seller Banks Crossing Associates, LLC along with Newmark Knight Frank associates Fred Victor, Mark Hillis and Andrew O’Brien.

Nightingale Properties acquired the neighborhood retail center, which is 97 percent occupied by anchors that include JC Penney, Kroger, Kroger Fuel Center, Guitar Center, Farmers House Furniture, CitiFinancial and Goodyear.

Knoll said Banks Crossing retail center was built in 1987 and renovated in 2005.

“The sale of this core-plus property reflects that grocery anchored centers are in high demand,” said Knoll.

“This asset was a natural fit for the Nightingale Properties portfolio,” Victor said.