Time Equities Goes Shopping in Columbus

By Adelina Osan | Aug 21, 2015

Original article published on Commercial Property Executive

New York-based full service real estate firm Time Equities Inc. has acquired three properties in Columbus, Ga. for $30 million. This deal marks the company’s sixth retail property in the state.

Colliers International’s Atlanta-based investment sales team of Joe Montgomery and Tony D’Ambrosio represented the property’s seller, 99-year old Columbus-based real estate firm The Woodruff Cos.

The 277,000-square-foot portfolio known as “The Landings” is located at 2450 Airport Thruway and 5300 Sidney Simons Blvd. These properties make up a highly productive lifestyle center between the affluent Columbus suburbs and its central business district.

“The portfolio exhibits many characteristics we look for in an acquisition including healthy market fundamentals, growing retail sales, a balanced and diverse tenant mix, and long-term upside. In addition, after the Landings underwent extensive renovations, it has differentiated itself creating a reputation as a fun and walkable destination to dine and shop,” Ami Ziff, director of national retail, said in a prepared statement.

The Landings is a vibrant shopping destination drawing customers from a wide trade area for an open-air experience in the greater Columbus market. The property’s current tenant mix is made up of national retailers, local merchants and specialty restaurants including Kinnucan’s, Outback Steakhouse, Petland, McDonald’s, Baldwin Interiors, Office Depot, Subway and Applebee’s, among others.