July 12--The owner of Washington Road'sPublix-anchored shopping center said in a regulatory filing it plans to sell the 14-acre retail property and two adjoining parcels to the same corporate entity that earlier this year paid $20 million for the nearby Washington Square strip center.
Augusta-based Security Land & Development Corp. said in a June 27Securities and Exchange Commission filing that it intended to sell the property at 2816 Washington Road to WSQ LLC by Oct. 15.
WSQ is the same limited liability corporation that acquired the 28-acre Stein Mart-anchored Washington Square in January.
Financial terms of the sale were not disclosed in the regulatory filing. Security Land & Development President Greenlee Flanagin declined to comment when contacted Thursday.
WSQ is registered to Bret Block, a partner in the Atlanta law firm of Block & Fine. A phone message left with Block on Thursday was not immediately returned. Block also declined to comment in February when The Chronicle reported on the acquisition of Washington Square, whose tenants include 2nd & Charles and Carrabba's Italian Grill.
The property WSQ would acquire from Security Land & Development would include the 70,000-square-foot Publix shopping center and two out-parcels fronting Washington Road, one which is vacant and one which is occupied by a National Tire & Battery service center.
The shopping center was built in 1995 for Publix, which is more than three years into its second 20-year lease. A Publix spokeswoman said the impending sale doesn't affect the supermarket.
"Our Publix at National Plaza will continue to serve customers and is not closing or relocating," said Kim Reynolds, media and community relations manager with Publix Super Markets, Inc. "We enjoy being a part of this wonderful community and look forward to continuing to provide our loyal customers with legendary service and quality."
Commercial property has sold briskly on Washington Road west of the Augusta National Golf Club, which has acquired virtually all available tracts between the former Berckmans Road and the realigned Berckmans Road during the past several years through corporate affiliates, such as Berckman Residential Properties LLC and BCRE Investments LLC.
Only three non-Augusta National owned properties front the southside of Washington Road between the club and the realigned Berckmans Road: the Walgreen's drug store at 2744 Washington Road, the Wendy's at 2738 Washington Road, and the next-door Olive Garden restaurant at 2736 Washington Road.
The north side of Washington Road is dotted with numerous commercial developments, including The Fresh Market-anchored National Hills shopping center, which in November was acquired by Canadian real estate firm Slate Asset Management LP for $24.7 million.
(c)2018 The Augusta Chronicle (Augusta, Ga.)
Visit The Augusta Chronicle (Augusta, Ga.) at chronicle.augusta.com
Distributed by Tribune Content Agency, LLC.
© Tribune Content Agency, source Regional News