Lincoln Property Company Southeast Brokers $22.95 Million Sale of Regional Power Center in Warner Robins, Georgia
Lincoln Property Company Southeast (Lincoln) and SRS Real Estate Partners have arranged the $22.95 million sale of City Crossing, a 298,933-square-foot power center located in Warner Robins, Georgia. Tony Bartlett and Chris Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller, Wells Fargo Bank, N.A., in the transaction. D&J Real Estate Management purchased the property, which is anchored by The Home Depot, Ross Dress for Less, HomeGoods, Old Navy and Michaels.
Originally engaged in 2012 as Receiver for City Crossing, Lincoln stewarded the center through a difficult period and was able to re-invigorate the asset through aggressive leasing and management, increasing occupancy to 86 percent while also addressing a variety of complex construction, insurance and legal issues that had collectively stymied project leasing.
“The project really brought out the best in our team and our ability to bring different disciplines within our service platform together to focus on the challenges was key to performance on the assignment,” said Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office. “Providing our client with a ‘single stop shop’ from which to address the issues and execute a coordinated strategy ultimately added tremendous value for our client.”
Located at 2620 Watson Blvd. in Warner Robins, the property benefits from its location at the intersection of Watson Boulevard and Carl Vinson Parkway, which is crossed by more than 44,000 vehicles per day.