Parkside Shops and Hammond Exchange, abutting shopping centers along Roswell Road in central Sandy Springs, have secured $72 million in refinancing from global investment firm KKR. The package also mentions further property improvements, according to the Metro Atlanta CEO.

In September, commercial real estate firm Cushman & Wakefield announced that it arranged the floating-rate loan for Jamestown, the Atlanta-based firm behind Ponce City Market.

Cars fill the parking lot at Hammond Exchange shopping center in Sandy Springs, anchored by Whole Foods Market and Marshalls
A Whole Foods Market anchors the Hammond Exchange Shopping Center along Roswell Road (SR 9) in central Sandy Springs, one of two Jamestown-owned properties that recently secured refinancing. (Provided by the Fulton County Board of Assessors)

Jamestown bought the two Sandy Springs shopping centers in 2018, for a combined $93.85 million, according to Fulton County property tax records.

Investing in Sandy Springs retail

Together, the Roswell Road shopping centers span more than 330,000 square feet on roughly 25 acres, between Cliftwood and Hammond drives. Parkside Shops has about 160,000 square feet of retail space, and the Whole Foods-anchored Hammond Exchange has about 175,000.

Since its purchase, Jamestown has invested in site improvements, signed new leases, and acquired an adjacent outparcel. While the announcement says the site is now positioned for future mixed-use redevelopment, no timeline, zoning application, or construction schedule has been disclosed.

Aerial view of Parkside Shops in Sandy Springs, showing retail buildings, parking lots and surrounding roads
An aerial view shows the Parkside Shops retail center in central Sandy Springs, with a portion of the Hammond Exchange Shopping Center just north of it. (Provided by the Fulton County Board of Assessors)

Mark Gilbert, vice chair at Cushman & Wakefield, said the shopping centers and movie theater create one of metro Atlanta’s top grocery-anchored retail destinations, pointing to the Whole Foods anchor and the location in the heart of Sandy Springs.

John Alascio, who led the Cushman & Wakefield financing team, said the deal includes funding for future upgrades.

“Jamestown’s vision and stewardship have transformed the properties into a true community gathering place, driving tenant demand while creating a compelling long-term growth story,” Alascio said in the release. “The combination of strong in-place performance, future value-add initiatives and institutional-quality sponsorship generated significant lender interest and allowed us to secure an attractive financing solution, including a facility to provide funding for additional improvements, which will solidify the assets’ position in the market for years to come.”

Hayden Sumlin is a staff writer for Rough Draft Atlanta, covering Sandy Springs, Fulton County, Norcross, and real estate news.