FORGE ANNOUNCES SALE OF SHANNON CROSSING SHOPPING CENTER
Forge Real Estate Partners III, LP (the “Fund”), a joint venture between Forge Capital Partners and The Sembler Company, is pleased to announce the sale of Shannon Crossing, a 101,174 square foot shopping center located in Union City, Georgia.
Shannon Crossing is a Kroger anchored shopping center located adjacent to I-85 just 7.5 miles south of the Hartsfield-Jackson Atlanta International Airport. Built in 1981, this center has provided essential grocery, restaurant, and service-based offerings to nearby consumers for nearly forty years. This neighborhood shopping center is well positioned to continue benefiting from the South Atlanta industrial corridor’s explosive growth. The Fund purchased the asset in March of 2016 and added value through upgrading the tenant mix, increasing occupancy, and making significant capital improvements.
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 29 million square feet and national retailers such as Publix and Target. The company currently manages and leases over 10 million square feet of company owned and third-party managed retail properties.