Staubach Capital Markets' East Coast Retail Investment Teamrepresented seller Paces Properties Inc. in the transaction. JimHamilton, associate with Staubach's Atlanta office, says demandremains strong for class A retail assets.
"There have not been too many properties traded for over $400per sf in Atlanta," Hamilton tells GlobeSt.com. "We had a verystrong response from the investment community on this asset."
Paces Ferry Center is located at a desirable intersection atPaces Ferry Road and Cumberland Parkway, near the Paces West officebuildings, says Hamilton, who brokered the deal with Whitney Knoll,executive VP, and Kevin Hurley, senior financial analyst. He saysthe fully occupied center attracted a strong list of qualifiedinvestors that apparently were not impacted by capital volatilityor softening market conditions.
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