Banks Crossing is anchored by Kroger and JCPenney, with junioranchors including Guitar Center and Farmer's Home Furniture. Thecenter fronts Georgia Highway 85 at the intersection of Banks Road,within Fayette County's growing residential communities, and issituated 11 miles south of the Atlanta Hartsfield-Jackson Airportand approximately 20 miles south of Downtown Atlanta.

While Lamar acquires shopping centers showing potential forincome growth through redevelopment or tenant replacement, BanksCrossing appears to be the opposite in that it is currently 98%occupied, according to Tony D'Ambrosio of Colliers Spectrum Cauble,who represented seller AIG Baker in the transaction. "This wasn't avalue-add play, although there does seem to be opportunity toachieve some modest rent growth in the future," he says.

D'Ambrosio, who partnered with fellow retail broker JoeMontgomery on the sale, tells GlobeSt.com that Birmingham, AL-basedAIG Baker is a merchant developer that does not typically hold onto properties once they've been developed. "The seller wanted torecycle their equity into their newer developments which are a bitlarger," he says.