(Crystal Proenza is associate editor of RealEstateFlorida.)
BUFORD, GA-Halpern Enterprises, one of the largest retaildevelopers in metro Atlanta, has sold Mill Creek Crossing, a50,785-sf shopping center for $7.7 million, or $152 per sf. Thebuyer, Mill Creek Crossing LLC, is backed by a private investorbased in Georgia who plans to hold and stabilize the asset.
The property is 25 miles northeast of Downtown Atlanta and isanchored by both Wal-Mart Supercenter and Lowe's. The 18-tenantproperty is 88% occupied, half of which are national credittenants, including Dollar Tree, GameStop, Sylvan Learning Centerand Weight Watchers. Rents range between $14 and $16 per sf withinthe property, with potential for rental upside.
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