Inland Retail Real Estate Trust Inc. of Oak Brook, IL paid one of the highest per-sf-prices in Georgia this year for a community shopping. The REIT bought the newly built, 69,500-sf Suwanee Crossroads in Suwanee, GA from Suwanee Shops Associate LC for $12.3 million or $174.53 per sf. The 100%-leased property is 20 miles northeast of Downtown Atlanta.

Weingarten Realty Investors of Houston bought the 19-year-old, 502,500-sf Atlanta Industrial Park from Atlanta Park Ltd. II LP, Atlanta Park Ltd. VI LP and 1998 Augustus Partners LP. Weingarten didn't disclose the price.

But area brokers familiar with metro Atlanta's industrial submarkets tell GlobeSt.com the seven-building complex, built on 36 acres between 1984 and 1986, was probably constructed for $50 per sf or about $25 million. Brokers tell GlobeSt.com the 99%-occupied asset probably sold for about $30 million or $59.70 per sf.

In a prepared statement, Weingarten president/CEO Drew Alelxnader says the REIT has invested $42.8 million in new properties this year totaling one million sf. The company entered the Atlanta market in 2002 and has three Georgia assets totaling 1.3 million sf.