Octave Holdings and Investments Acquires Lakeland Plaza
Lakeland Plaza, a 301,766 square foot grocery-anchored center, is 94% occupied and comprised of a strong tenant mix of national, regional and local tenants, including Sprouts Farmers Market, LA Fitness, Belk, Bealls Outlet, Shoe Gallery, among others. The center is located along GA-400 and adjacent to the Northside Hospital, which just underwent a $44M expansion and sees over 650,000 annual patients. Lakeland Plaza is at the gateway to some of the Atlanta MSA’s most affluent and fastest growing suburbs with incomes in excess of $150K in a 5-mile radius. Additionally, the center offers a vacant parcel which is planned for future development as a medical office or a limited-service hotel.
Octave’s leadership team, led by Sridhar Marupudi and Zia Rahman, commented, “Lakeland Plaza is another great acquisition for our fund’s portfolio, adding a first-class grocery-anchored property that is complemented by best-in-class national, regional and local tenants with strong sales. Line with our current strategy, we look forward to continuing to add solid grocery anchored or shadow anchored commercial properties to our portfolio this year.”
“Lakeland Plaza is going to be a great addition to our 8th fund,” commented Scott Henard, Executive Vice President and Director of Acquisitions for Octave. “The property has great fundamentals being grocery-anchored and located across from the Northside Hospital which recently expanded. We are looking forward to leasing up the remaining vacancy and developing the vacant parcel of land.”
The acquisition was again led by Parth Munshi and Scott Henard, supported by the dedicated inhouse acquisition team.
Lakeland Plaza will be professionally managed by Octave’s dedicated property management company, Pinnacle Leasing and Management.
About Octave
Octave Holdings and Investments, LLC is a privately held real estate investment company that owns, operates and manages, a portfolio of over 45 commercial real estate assets in thirteen states valued at approximately $600 million.
Octave’s mission is to create an extraordinary investment experience leveraging our proven real estate strategies, our intuitive and dynamic investor portal, alongside our unparalleled customer experience.
Octave and its affiliates seek to deliver above average returns to their stakeholders by implementing a disciplined investment strategy, developing and maintaining strategic partnerships throughout the commercial real estate industry, and maintaining an alignment of interests with investors.
Parth Munshi
Octave Holdings and Investments
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