ATLANTA—The Atlanta area is about to get a flood of new retail space. Rooker, an Atlanta-based real estate development and construction company, has acquired the Shannon Mall site in Union City, GA, just south of Atlanta. Shannon Mall, which at its peak featured 95 stores, has been vacant since closing in November 2010.

Rooker acquired the site from Sears, Roebuck and Co. Inc., Lee Group USA, MB-REO Retail, and MB-REO Land. The sale price was not disclosed. Rooker plans to redevelop the 90-acre property.

"Union City has a proven track record of attracting business investment and manufacturing operations due to its great access to I-85 and business-friendly climate," says John Rooker, CEO of Rooker. "We're very excited about the opportunity for redevelopment and job creation at the former site of Shannon Mall, which is one of hundreds of regional malls that have closed across the country during the recession. This strategically located site, which is adjacent to I-85 and less than 10 miles from Hartsfield-Jackson International Airport, represents a prime opportunity for national and global companies to establish business operations."

The site will bring more than 1.2 million square feet of retail commercial real estate development online. Sim Doughtie of King Industrial Realty represented Rooker in the transaction. Chris Becker of Newmark Grubb Knight Frank represented the seller.

"Rooker's purchase of this property is a monumental win for Union City," says Vince Williams, mayor of Union City. "The City Council and I have been championing the redevelopment of this area for quite some time, affirming to the people of Union City that the property would certainly rise again."

The Shannon Mall redevelopment site will be eligible to receive Opportunity Zone tax savings of up to $3,500 per job created. It is also eligible for incentives through the Union City Tax Allocation District, an incentive plan geared toward redevelopment and infrastructure improvements.

"The presence of new industry coupled with many more job opportunities and future retail is evidence that Union City is open for business and that our economic development strategy is working," says Williams. "A vacant piece of property will be back in business, on the tax rolls and generating revenue. We welcome Rooker with open arms and are grateful for their partnership."

Union City is seeing a bit of a revival. Dendreon recent opened a $70-million biotechnology production facility there and Kraft Foods established a $60-million, 1 million-square-foot distribution center. The two facilities have created more than 400 jobs in Union City. Other major employers in include Wal-Mart, Newell Rubbermaid, Nissan of Union City, and Universal Forest products.

Rooker's successful development track record spans 50 years and includes the 250-acre Gwinnett Progress Center, the second largest business park in metro Atlanta. The company has developed distribution and manufacturing facilities for Ford Motor Co., FedEx, Office Depot, Havertys Furniture, Home Depot, Owens, and Minor and several build-to-suit facilities across the southeast for Georgia Crown Distributing Company.

Rooker picked Colliers International to market the property for consumer products, e-commerce, technology, and other business uses. Sean Boswell, Darren Ross, and Scott Plomgren of Colliers' Industrial Services group in Atlanta will lead the marketing efforts.