Back in August we noted the pending sale of the Atlanta office of North American Properties, which has managed the overhaul of Avenue East Cobb.
On Wednesday NAP officially sent out word that the acquisition by Jamestown, a commercial real estate investment and management firm, which also operates Parkaire Landing Shopping Center in East Cobb and Ponce City Market in Atlanta, has closed.
A sale price was not disclosed but the acquisition includes other metro Atlanta properties in Avalon, Atlantic Station and Colony Square. Jamestown’s assets now total $13.7 billion, according to a release sent out Wednesday.
“This acquisition gives us the ability to accelerate our expansion in secondary and tertiary markets throughout the Sun Belt where the population is growing,” Jamestown CEO Matt Bronfman said in the release.
“The additional experience in these markets and product types reinforces and enhances our differential capabilities as a vertically integrated, mixed-use operator, providing additional bench strength in these fast-growing markets.”
NAP took over management of Avenue East Cobb in 2021 and installed an outdoor public plaza and other amenities, and increased public events.
With those changes have come a number of new tenants, especially restaurants. Most recently, NAP announced an Italian restaurant and patisserie and a Japanese restaurant will be opening in early 2025.
Britni Johnson, a company spokeswoman, told East Cobb News that “no further changes are planned at this time; we’re just continuing to move forward on new tenant buildouts. Guests should not notice any differences in the team or property operations.”
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A company spokeswoman said
No further changes are planned at this time; we’re just continuing to move forward on new tenant buildouts. Guests should not notice any differences in the team or property operations.
