Asana Partners



The Plaza on Ponce set for revitalization following $18.1 mm sale

September 6, 2017

The Plaza on Ponce is set for a "revitalization," according to the retail strip's latest leasing materials.

"Be a part of the revitalization of The Plaza on Ponce," the leasing materials advertise.

"This strip, anchored by the famous Majestic Diner, will be merchandised to include true retail tenants and highlight the unique and authentic art-deco design of the center."

The 2.6 acre property on Ponce de Leon Avenue earlier this year was acquired by Asana Partners.

The Charlotte-based real estate company reportedly paid $18.1 million for the property which also houses the iconic Plaza Theatre.

Plaza Theatre was sold separately late August to Christopher Escobar, the director of the Atlanta Film Society.

Sam Judd, chief investment officer of Asana, at the time of the sale told the Atlanta Business Chronicle there were no plans to redevelop The Plaza on Ponce.

Signage has since gone up at the site advertising a similar message to the online marketing materials.

SRS Real Estate Partners, the firm representing the landlord in leasing the project, would not comment on the plans.


SOURCE: What Now Atlanta, Caleb Spivak