Mills Corp. Sells 10 Retail-Centers Package for $40 Mil or About $200 per SF

By remstaff & By Globe Street | September 07, 2000 at 01:01 AM

ATLANTA-The 200,000-sf Gwinnett Marketfair is one of the assets purchased by Stoltz Management Inc., a Delaware-based property management company.

Mills is selling off its smaller community shopping centers to focus on large-scale mall developments such as the 230-acre, 1.3 million-sf Discover Mills currently under development in north Gwinnett County. The developer's large mall projects are 1.5 million sf and 2 million sf. Rental rates in the larger malls are $18 per sf to $26 per sf.

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