Existing real estate in Atlanta’s tony Buckhead neighborhood doesn’t come cheaply. Executive Enterprises Diversified Investments’ purchase of the 15-year-old, 40,000-sf Tuxedo Festival is an example.

The buyer isn’t saying what it paid for the asset until the price is recorded in county tax files, but the listing price was $6.5 million. That translates to a pricey $162.50 psf.

FSA, a New York-based bond insurance firm, was the seller. The center’s anchors are Block Video and Party City. The buyer plans to spend another $1 million in renovations.

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