Lincoln Retained for Management Assignment for Pleasant Hill Square Center in Duluth, Georgia
Lincoln Property Company Southeast (Lincoln) has secured an assignment to manage Pleasant Hill Square. The regional power center was built in 1997 and is located at 2205 Pleasant Hill Road in Duluth, Georgia, within the Gwinnett Place CID.
“Our successful management of Pleasant Hill Square led to the former owner getting a premium price when it sold recently,” said Shane Froman of Lincoln. “The new owner, GW Real Estate of Georgia LLC, saw the value we were able to add as the property manager, which led to our retention of management services post-sale.”
Pleasant Hill Square includes an advantageous line-up of national anchors including Toys ‘R’ Us, Staples and Jo-Ann Fabric & Craft Stores with 86 percent of the current tenant roster featuring national and regional tenants. The property is located in the second-most populous county in Georgia, and is positioned directly on Pleasant Hill Road with great visibility to over 50,000 cars per day.
The property recently sold on Auction.com for $16.4 million. Tony Bartlett and Chip Sipple of Lincoln and Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction.