Asana Partners Acquires Krog Street Market and Atlanta Stove Works in Atlanta
Friday, April 13th, 2018
Asana Partners announced the acquisition of Krog Street Market and Atlanta Stove Works, two buildings in Atlanta's Inman Park neighborhood that are home to an award-winning food hall, shopping and dining destinations, and creative office suites.
"This investment deepens our commitment to Atlanta and expands our portfolio of authentic, walkable retail properties largely centered along the Atlanta BeltLine," said Brian Purcell, Managing Director at Asana Partners.
Krog Street Market and Atlanta Stove Works are adjacent to the most recent extension of the Atlanta BeltLine Eastside Trail, an important catalyst for development and a preferred location for intown retail, restaurant, and office tenants. Asana will invest capital to enhance the properties, building on their appeal as central gathering places along the BeltLine.
"Acquiring Krog Street Market and Atlanta Stove Works fits our strategy of investing in urban shopping and dining locations that are closely connected to their surrounding neighborhoods," added Purcell. "These assets complement our collection of neighborhood retail properties in Atlanta including the Plaza on Ponce and Glenwood Park retail."
Asana's acquisition includes well-known food and beverage outlets such as Superica, Jeni's Splendid Ice Creams, Ticonderoga Club, Rathbun's, and The Little Tart Bake Shop and retail and office tenants including The Merchant, Iris, and The Atlanta BeltLine Partnership, among others.
King & Spalding served as legal adviser to Asana Partners, and Eastdil Secured served as adviser to the seller, Paces Properties.