Coro Realty has acquired Varner Crossing, an 80,466 square foot grocery-anchored neighborhood shopping center with surface parking on 12-acres in Powder Springs, Ga.

The property is located at 4150 Macland Road in one of Cobb County’s fastest-growing areas. Varner Crossing is more than 98% occupied. It is anchored by a Kroger grocery with a Kroger Fuel Center and is complemented by an active array of businesses, including Subway, Marco’s Pizza and Macland Animal Hospital. Coro Realty will pursue a ground lease or build-to-suit opportunity for a vacant outparcel included in the deal.

“We expect Varner Crossing to be a solid and stable neighborhood center for years to come,” said John Lundeen, a Managing Partner of Coro Realty. “We are pleased to add it to Coro Realty’s grocery-anchored portfolio.”

Built in 2003, Varner Crossing is ideally situated on the “going-home” side of its intersection with direct access on both MacFarland and Lost Mountain Roads. The undeveloped one-acre outparcel along Lost Mountain Road is zoned for Neighborhood Commercial.

Coro will hold Varner Crossing for long-term cash flow and capital appreciation.

Coro Realty continues to be an opportunistic investor, having purchased a 44,764 square foot historic textile mill in Chattanooga, Tenn. and two high-profile parking decks in downtown Atlanta and selling its stake in Inman Quarter, a Class-A mixed-use development in Atlanta in the last six months.