MEDIPOWER ACQUIRES CRANE CREEK SHOPPING CENTER
Medipower, a full-service commercial real estate company, specializing in retail real estate across the East Coast, announced today the acquisition of Crane Creek Shopping Center, a 58,250 sqf Grocery Anchored Shopping center located in Augusta, the second largest metro in the state of Georgia.
The center is anchored by Sprouts Farmers Market, one of three specialty grocers in a 70 miles radius. In addition to Sprouts being the anchor, the property is occupied by a strong mix of regional and national tenants including First Watch, Five Guys and Charles Schwab.
With more than 127,000 residents within 5 miles, the center, developed in 2018, is strategically located in the heart of Augusta and appeals to the strong line-up of service-oriented tenants.
Jim Hamilton, Brad Buchanan and Greg Gaughan of JLL represented the seller and arranged the financing.
Ron Stern, CEO: "We are excited to announce our first acquisition in Georgia. Crane Creek is another best-in-class grocery-anchored shopping center in a dominant trade area with an excellent credit profile. We will continue to expand our portfolio into the most growing markets of the East coast and create ideal combination of location, strong demographics and region’s leading anchor tenants."