ICM Announces the Sale of Jones Bridge Square

(September 2024 – Atlanta, Georgia) ICM Asset Management is pleased to announce the sale of Jones Bridge Square (the “Property”, or the “Asset”), a prime 83,363 SF grocery-anchored retail plaza on 8.63 acres in Peachtree Corners, GA, within the Atlanta MSA. The business plan for the asset was focused on securing a lease renewal with Ingles Markets, the anchor grocer tenant, while maintaining the high occupancy of the retail centre.

Ingles Markets is an American supermarket chain with over 200 locations across six southeastern states. The Property is being acquired by Ingles Markets, who occupy 75% of the plaza’s gross leasable area. At the time of sale, the Property was 100% leased at market rates, with other major tenants including Dunkin’ Donuts, Subway and The UPS Store.

The successful sale marks another successful full-cycle business plan execution by the ICM team and allows ICM Property Partners to redeploy capital from a non-core investment into new opportunities that are aligned with its current investment strategies.

“This transaction underscores ICM’s dedication to capitalizing on value-add opportunities while leveraging our investment and asset management expertise to generate strong risk-adjusted returns for our investors.” 

– Spencer Y. Patton, Partner & Managing Director USA