Investors Looking to Expand Forsyth Retail Center
CTO Realty Growth paid $96 million on The Collection at Forsyth ten months ago, and now it looks like the company is looking to expand the 560,000-square-foot retail center.
The Atlanta Business Journal reports that CTO Realty Growth bought 10.6 acres next to the project, where it has an opportunity to add more restaurants, entertainment and other retail spaces. The retail center at Georgia 400 along Peachtree Parkway includes Ted’s Montana Grill, AMC Theatres and Academy Sports.
Since buying The Collection at Forsyth, the publicly traded REIT has grown rents for new and comparable leases at the project by over 35%.
It has signed or renewed 13 leases for at least 52,000 square feet with an average rent per square foot of $27.85, according to data shared in the earnings call.
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