Knoll-Hillis Team at Newmark Grubb Knight Frank sets new low cap rate benchmark in sale of Publix-anchored retail center in Roswell

ATLANTA, Ga. --- The Knoll-Hillis Team at Newmark Grubb Knight Frank Capital Group in Atlanta recently negotiated a record price in the sale of the 81,159 square foot Publix-anchored Village Walk retail center at 270 Rucker Rd. in Roswell. Whitney Knoll, who heads the investment sales team at Newmark Grubb Knight Frank, said Village Walk, built in 2005 and redeveloped three years ago, was 95.3 percent occupied at the time of sale with an “A” list of tenants that includes one of only two Publix Pix gas stations in Georgia, Chase Bank, Shane’s Rib Shack, Anytime Fitness, Dentistry for Children and Chin Chin Chinese Restaurant in addition to the Publix supermarket. Knoll and partner Fred Victor negotiated the $20,400,000 sale price on behalf of the seller. The Prudential Variable Contract Real Property Partnership, a subsidiary of Prudential Real Estate Investors acquired the retail center. “The returns for this transaction were driven by strong institutional investor demand for quality core product in a market with limited supply of such product,” said Victor. Knoll said several institutional pension fund clients stepped up to the rarefied pricing, willing to pay true core pricing to acquire such a quality center. The Knoll-Hillis team – led by Whitney Knoll and Mark Hillis – is a five-member team that is focused exclusively on capital market transactions on behalf of owners with assets in the Southeast. Jason Archer coordinates the underwriting and marketing of assets through the disposition process, and is responsible for developing disposition strategies, asset positioning and creating new business leads. The team has executed transactions valued at more than $10 billion across all property types including office, retail, industrial, multi-family, and hotels. Transactions range from $1 million to over $100 million and represent core, value add and opportunistic properties including distressed and REO assets. Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Operating from more than 300 offices on five continents, Newmark Grubb Knight Frank serves the property needs of tenants, owners, investors and developers worldwide. Newmark Grubb Knight Frank provides a fully integrated platform of services to prominent multinational corporations and institutional investors across the globe, as well as to owners and users of real estate on a local, regional and national level. With services including leasing advisory, global corporate services, investment sales and financial services, property and facilities management, program and project management, consulting, and appraisal and valuation services, Newmark offer comprehensive real estate solutions supporting the business objectives of our clients.