(For more retail coverage, click GlobeSt.com/RETAIL.)
ATLANTA-Eatontown, NJ-based Wharton Acquisition LLC has acquiredthe 99,372-sf Kroger Citi-Center at 590 Cascade Ave. for $9.2million. The seller of the property was locally based CascadeCiti-Center LLC.
Built in 1973, the property was redeveloped 10 years ago. Theproperty was 100% occupied at the time of the sale with Kroger asthe anchor tenant. Other tenants include Hollywood Video, TenetHealthcare and Cato. The property has a 98% credit tenancy and wasdelivered free of debt. Space rents for $15 to $23 per sf.
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