Atlanta, GA (April 9, 2024) – Jamestown, a global, design-focused real estate investment and management firm, today announced the additions of Fountain Oaks in Sandy Springs, GA and Tamarac Town Square in Tamarac, FL to its grocery-anchored shopping center portfolio.
The vertically integrated real estate firm has owned and operated more than 4.6 million square feet of grocery-anchored shopping centers in over 15 markets since 1990. The acquisitions expand the firm’s current grocery-anchored shopping center portfolio to nine properties across Georgia and Florida totaling approximately 1.4 million square feet.
Located in Sandy Springs, Fountain Oaks is an approximately 160,000-square-foot center anchored by Kroger. Originally built in 1988 and renovated in 2003, Fountain Oaks is currently 92% leased to 38 tenants. Tamarac Town Square is an approximately 124,000-square-foot, Publix-anchored center in Tamarac, which is northwest of Fort Lauderdale and south of Boca Raton. The center is currently 84% leased to 19 tenants.
“Grocery-anchored shopping centers have been a focus area for Jamestown for decades,” said Michael Phillips, President of Jamestown. “Our vertically integrated capabilities and consumer-centric approach to real estate are differentiators within the space. Our aim is to create third places where people come together and feel connected, and grocery-anchored shopping centers hold the potential to be fixtures of the communities they serve.”
While known for its large, mixed-use developments and adaptive reuse projects, Jamestown has invested in community-focused, grocery-anchored shopping centers for over 30 years. The firm has owned and operated more than 20 grocery-anchored shopping centers in its history and the sector continues to be a focus area.
Jamestown’s in-house leasing team works directly with local retailers to curate a healthy ecosystem and community-focused tenant mix that caters to both daily needs and an increasing suburban daytime population. As part of its value creation strategy, Jamestown also implements placemaking initiatives focused on improving the customer experience, tenant performance, sustainability, and revenue generation. Current initiatives include the introduction of property-wide Wi-Fi, electric vehicle charging stations, murals, and outdoor open space.
Jamestown’s current grocery-anchored shopping center portfolio includes the Publix-anchored Polo Club Shops in Boca Raton, FL. Following capital improvements that included placemaking programming and design interventions, the center’s net operating income has increased by 80% from 2015, when Jamestown acquired the site.
Other centers in Jamestown’s portfolio include Publix-anchored Village Commons in West Palm Beach, FL; Doral Commons in Doral, FL; and Country Club Plaza in Miami Gardens, FL, as well as Whole Foods-anchored Hammond Exchange and Parkside Shops in Sandy Springs, GA; and Kroger-anchored Parkaire Landing in Marietta, GA.
JLL represented EDENS in the sale of Fountain Oaks and Regency Centers in the sale of Tamarac Town Square.
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About Jamestown
Jamestown is a global, design-focused real estate investment and management firm with a 40-year track record and mission to create places that inspire. Since its founding in 1983, Jamestown has executed transactions totaling approximately $40 billion. As of December 31, 2023, Jamestown has assets under management of $11.6 billion and a portfolio spanning key markets throughout the U.S., Latin America, and Europe. Jamestown employs more than 500 people worldwide with headquarters in Atlanta and Cologne, and offices in Amsterdam, Bogotá, Boston, London, Los Angeles, Madrid, New York, San Francisco, and Washington, D.C. Current and previous projects include One Times Square and Chelsea Market in New York, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, the Innovation and Design Buildings in Boston and Lisbon, and Groot Handelsgebouw in Rotterdam. For more information, visit www.jamestownlp.com.
