The Landings Community Shopping Center in Columbus Sold for $30M
Staff Report From Columbus CEO
Thursday, August 20th, 2015
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.