FORGE ANNOUNCES SALE OF KENNESAW WALK SHOPPING CENTER
Forge Real Estate Partners IV, LP (the “Fund”), a joint venture between Forge Capital Partners and The Sembler Company, is pleased to announce the sale of Kennesaw Walk Shopping Center, a 94% leased, 68,744 square foot Publix anchored neighborhood center located in Kennesaw, GA.
At the intersection of Jiles and Baker Roads just one mile west of I-75, Kennesaw Walk is located in a highly desirable and growing suburban Atlanta submarket with average household incomes over $90,000 within 3-miles. The Fund acquired the property in April 2019 and created value through re-merchandising the tenant mix and capital improvements.
The property was sold to ShopOne Centers.
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. Forge has built a strong track record as an acquirer and operator of commercial real estate, specializing in socially responsible projects throughout the Southeast. Since 2000, Forge and its principals have successfully sponsored and managed four real estate oriented, closed-end private equity funds, and executed over a billion dollars in retail and multifamily real estate transactions.
The Sembler Company, formed in 1963, is one of the premiere full-service real estate companies in the United States. Specializing in commercial retail development, Sembler has developed over 350 properties throughout the Southeast and Puerto Rico, consisting of 30 million square feet and national retailers such as Publix and Target. The company currently manages and leases over 8 million square feet of company owned and third-party managed retail properties.