Wasa Properties Announces The Sale Of Southlake Pavilion

Brooklyn, NY – Wasa Properties announces the sale of Southlake Pavilion shopping center located in Morrow (Atlanta MSA), Georgia. The property features 218,059 square feet of retail space and is anchored by PetSmart, Planet Fitness, Best Buy, American Signature Furniture, Roses and BioLife. The asset was sold at 100% occupancy with new leases and renewals for Best Buy, American Signature Furniture, Roses, Planet Fitness and BioLife.

Wasa Properties acquired the asset in the 1st Quarter of 2018 and was 73% occupied with approximately 57,021 square feet of vacancy. Wasa Properties managed to sign a total of 75,521 square feet of new leases and renewals which included replacement for 18,500 square feet former Fallas space who filed Chapter 11 bankruptcy during the hold period.

The sale of Southlake Pavilion was brokered by Transwestern.

About Wasa Properties

Wasa Properties is a New York City based real estate investment and operating firm currently executing an opportunistic strategy focused on repositioning income generating distressed and deep value-add opportunities, well located within dynamic target markets throughout the northeast, southeast, and southwest. Wasa Properties has grown organically, acquiring one property at a time since the firm’s inception in 2004 to over 2 million square feet of assets currently under management.

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