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ATLANTA-JDN Realty Corp. is buying 49% of a six-month-old, 313,006-sf shopping center owned by Atlanta developer Charlie Hendon and Hendon/Atlantic Rim John’s Creek at Peachtree Parkway and McGinnis Ferry Road in north Atlanta.

The price wasn’t disclosed in JDN’s prepared statement. JDN officials couldn’t be reached at GlobeSt.com’s publication deadline to learn terms of the deal for the 93.7%-leased property.

But area retail brokers familiar with the north Atlanta submarket tell GlobeSt.com on condition of anonymity the current hard and soft construction costs of a comparable new retail center is at least $100 per sf. That would make 49% of the 313,006-sf center valued at about $15 million.

The center is anchored by a 103,242-sf Big Kmart; an 86,584-sf Kohl’s department store; a 25,348-sf Michael’s; and a 23,942-sf Staples.

JDN was trading at $10.40 per share on volume of 24,200 on the New York Stock Exchange at noon today, down 14 cents from $10.24 yesterday. The company has 32.85 million shares outstanding. Market capitalization is $341.72 million. The stock’s 52-week high-low is $13.64 and $9.

For its first fiscal 2001 quarter ended May 13, JDN posted funds from operations of $9.7 million or 30 cents per share versus $11 million or 34 cents per share in the comparable 2000 period. First Call analysts had anticipated a first-quarter 2001 profit of 34 cents per share.

Revenue totaled $26.5 million compared with $26.3 million in last year’s fiscal first quarter.

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