SANDY SPRINGS, GA-Regency Centers Corp. has acquired the 115,794-sf Sandy Springs Shopping Center here for $35.3 million.
The Jacksonville, FL-based firm states that the shopping center on Roswell Road in Atlanta’s Buckhead neighborhood is 95% leased and anchored by Trader Joe’s, Pier 1 Imports and Party City.
“You look at Atlanta now and you see a population shift to the city’s core,” Andre Koleszar, a Regency Centers vice president and regional officer told the Atlanta Business Chronicle. “Sandy Springs, with its close proximity to the city of Atlanta and Buckhead, is capitalizing on that shift.”
Scott Porter, a senior manager of acquisitions and dispositions for Regency, says the firm will be spending at least $1.5 million in upgrades to the property. See story in the Atlanta Business Chronicle.