ALPHARETTA, GA-Cincinnati-based North American Properties Inc. has acquired Prospect Park, a stalled retail center and mixed-use project in Alpharetta, for $22.8 million. Wells Fargo & Co. sold the more than 100-acre land through Eastdil Secured LLC.
The stalled development traded for $225,742 per acre. The new project will likely include roughly 400,000 square feet of retail space and a mix of residential units and offices. The first phase of the project will be completed in October 2013. For the full story, go to Atlanta Business Chronicle .
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