The Landings Community Shopping Center in Columbus Sold for $30M (Atlanta: sale, real estate)

[amyers3]

Colliers International arranged the $30 million sale of The Landings, a 277,000-square-foot lifestyle and community shopping center on 40 acres of land along the Airport Thruway in Columbus, Ga.

The Landings tenants include Kinnucan’s, Outback, Baskin Robbins, I Love Juice Bar, Plato’s Closet, Chicken Salad Chick, McDonald’s, Baldwin Interiors, Taco Bell, Office Depot, Petland, Subway and Fuddrucker’s.

A Colliers International Atlanta team of Joe Montgomery, Tony D’Ambrosio, Hank Hall and Trevor Ritter represented the seller, a subsidiary of the Woodruff Companies, a 99-year-old commercial real estate developer and investment firm. The team provided comprehensive brokerage and capital markets services for the transaction.

In recent years, Woodruff successfully rebranded the 1970s-vintage property and transformed it into a destination retail center serving the affluent Columbus market, according to Woodruff Brokerage Company representatives Tra Dykes and Genevieve Green. Woodruff will continue to provide property management and leasing services on site.

Time Equities of New York purchased the property, which will become part of its 20-million-square-foot portfolio in North America and Europe. “We are excited about the future of The Landings and our participation in Columbus,” said Director of Acquisitions Ami Ziff, who handled the transaction for Time Equities.

[Columbus1984]

Great business deal for them. Looking forward to seeing what they continue to do with Old Town and The Grove.

[Sonofagun112]

They have been unloading properties as of late. They sold the St. Francis Marketplace earlier this year. I wonder what their plans are.

[Columbus1984]

Originally Posted by Sonofagun112

They have been unloading properties as of late. They sold the St. Francis Marketplace earlier this year. I wonder what their plans are.

Nothing new for developers to do this. They improve the property and sell for a premium. Good business.

[amyers3]

They will continue to manage the property so nothing changing here, unlike St Francis Marketplace.

[Citizen Reporter]

Woodruff knows it is checkout time as far as retail property goes with the huge upcoming economic slowdown the city will be slammed with in the very near future.
These local businessmen knew well in advance that this was coming(long before the public)and were already prepping unloading before the news and downturn came knowing they would get a fraction of their investment back.
Smart guys.

[Columbus1984]

Originally Posted by amyers3

They will continue to manage the property so nothing changing here, unlike St Francis Marketplace.

Sounds like a smart decision. Woodruff is on a roll.

[Citizen Reporter]

Originally Posted by Columbus1984

Sounds like a smart decision. Woodruff is on a roll.

I agree.
Mr Scarborough knows fully well a very large retail bubble is on the way to popping locally and filling apartments will be a bigger fish to fry and hopefully they have gotten their inital investments out now.
You will see the rental wars start in the very near future.
He is better off just staying with managing these places rather than be invested too heavily in local real estate.
Between Benning shrinkage and rumors of another recession pending it would be a disaster money wise.
Definitely time to fold them.

Carl Gregory knew the score in advance and unloaded to Autonation as well.
Smart guys.

This will be lesson to be learned for locals who relied on Benning for much too long.

[OldRiverRd]

Relied on Bennington to much eh? And just how did locals accomplish this? Did we have a choice I don't know about. Locals have no say or choice in benning. Keep fishing jack. As for the rest. It was a sound financial decision to sell while the market is up.

Is trouble on the horizon? Possibly, but that's the reality for the county not just Columbus. Benning news is not good, but the hammer hasn't fallen yet and there could be other shake ups, good or bad. But locals don't have a say in military affairs. We can only make the best decisions for us and our families.

[Riverwalk Col Boy]

Originally Posted by OldRiverRd

Relied on Bennington to much eh? And just how did locals accomplish this? Did we have a choice I don't know about. Locals have no say or choice in benning. Keep fishing jack. As for the rest. It was a sound financial decision to sell while the market is up.

Is trouble on the horizon? Possibly, but that's the reality for the county not just Columbus. Benning news is not good, but the hammer hasn't fallen yet and there could be other shake ups, good or bad. But locals don't have a say in military affairs. We can only make the best decisions for us and our families.

Bennington?
Business choices?
Reality for the county?

What has this got to do with making decisions for us and our families?
Most folks do not own business so why would it matter.
Locals built their business around Benning money rather than local/surrounding customers and always have.
They placed their bet and unfortunately will now lose a large portion of their business.
Apt rentals will plummet.

You sir are in denial.
Get a new pole or quit fishing!!