The Moonbeam Capital Investments Group of Companies and the Urban Redevelopment Agency of Gwinnett County announced today the URA’s $23 million purchase of 39 acres at Gwinnett Place Mall. Easily accessible from I-85 and centrally located within Gwinnett County, the property has been a key focus for leadership within the County and will help amplify future expansion and planning efforts.

“We are thrilled to add the Gwinnett Place Mall property to the County’s portfolio,” said Nicole Love Hendrickson, chair of the Gwinnett County Board of Commissioners. “The location offers us an incredible opportunity to create a redevelopment that will serve every Gwinnett resident. With community involvement and careful planning, this site will be a catalyst for future growth in our area.”

Colliers International’s Atlanta-based Southeast Retail Investment Sales Team — under the direction of Executive Managing Director Joe Montgomery and Senior Vice President Tony D’Ambrosio — represented the seller in this transaction. 

Completed in 1984, the Gwinnett Place Mall site has more than 90 acres and fell on hard times in the mid-2000s as key tenants moved to regional malls. Properties not included in this sale will remain with respective current owners, whose current tenants – Macy’s, Mega Mart and Beauty Master – will not be impacted by this purchase. The URA is working closely with these groups to ensure all are aligned on goals as planning and revitalization begin.