New owners have been announced for Krog Street Market, about seven months after the game-changing mixed-use redevelopment in Inman Park was listed for sale.
Asana Partners announced Friday the acquisition of both Krog Street Market and the nearby Atlanta Stove Works, both of which are adjacent to the Atlanta Beltline’s Eastside Trail.
Atlanta-based Paces Properties previously purchased Krog Street Market in 2012 for $13.5 million, and opened the doors with a mix of dining and retail in late 2014. Late last year, investors said they sought to recapitalize funds due to its success.
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Krog Street Market includes establishments such as Superica, Ticonderoga Club and The Little Tart Bake Shop. Stove Works has offices with tenants such as Trees Atlanta and the Beltline; its restaurants include Rathbun's, Krog Bar and Bell Street Burrito.
Asana will invest capital to enhance the properties, according to a press release. Brian Purcell, the Charlotte-based real estate company's managing director, said the recent acquisitions fit the "strategy of investing in urban shopping and dining locations that are closely connected to their surrounding neighborhoods."
The move comes just more than a year after Asana reportedly paid $18.1 million for a Ponce de Leon Avenue property that includes the Majestic Diner and the Plaza Theatre. The company also owns Glenwood Park retail properties.
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