Halpern Enterprises expands its portfolio once again to include North McDonough Crossing shopping center. The newly-acquired shopping center is 82,223 SF and located at 5900 East Lake Parkway, McDonough, Ga.
Halpern purchased the center’s in-line shops (32,550 SF), which are shadow-anchored by a Kroger-owned grocery store (49,673 SF). After Kroger, the two largest tenants are Fox Ridge Pizza Co. at 3,500 SF and Pedro’s Taco Shack at 4,900 SF.
The sale closed May 1, 2017. The seller, Redd Realty, originally developed North McDonough Crossing in 2002. The sale was brokered by Cushman and Wakefield’s Mark Joines, now of NGKF.
Steve West, Vice President of Acquisitions and Development at Halpern, says the acquisition was motivated by the center’s “prime location,” noting the three nearby schools with more than 3,500 students combined “make the shopping center in a prime activity node.” The center also has excellent real estate fundamentals, according to West. “The property is on the double going-home side of a key intersection, with easy access and visibility from the street.”
“Ultimately, we believe in the location,” said West. “Henry County is once again a growing community, and Halpern is very pleased to invest here.”