Glynn Isles Shopping Center sold
Oct. 25—The Glynn Isles Shopping Center in Brunswick has a new owner.
The Big V Property Group, based in Charlotte, N.C., purchased the 193,039-square-foot shopping with the help of the commercial real estate services firm Cushman & Wakefield, in an announcement Thursday.
"Anchored by best-in-category tenants, Glynn Isles has excellent tenant retention since development in 2007. The property offered a unique combination of a seasoned tenant roster, significant leasing momentum, and value-add with a rare anchor box vacancy," said Lane Breedlove, director at Cushman & Wakefield.
The selling price was not released in the announcement. According to the Big V Property Group website, one of the selling points was the millions of annual visitors to the Golden Isles.
"We are excited to expand our presence in the Southeast, and specifically Georgia," said Jeffrey Rosenberg, the company's president and CEO. "Glynn Isles is a best-in-class center, and I'm pleased to have this quality center join our portfolio."
Big V now owns five properties in Georgia and 57 neighborhood and community shopping centers, mostly in the Southern United States.
"Glynn Isles received robust investor interest due to excellent retail fundamentals and a rare value-add component at the regional dominant shopping center," said Margaret Jones, with Cushman & Wakefield. "The property draws over 4.5 million annual customers and is the busiest center within 50 miles."
