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DECATUR, GA-Shopping centers in the Atlanta market continue to head the assets-acquisition lists of private and institutional buyers as indicated by the $21.3 million sale of Belevedere Plaza here. A private New York-based syndication group paid Atlanta-based Mimms Enterprises $57.14 per sf for the 372,762-sf property.

Marcus & Millichap brokered the deal, representing Mimms. The buyer also paid an additional $500,000 in prepayment penalties to eliminate existing debt and obtain new financing, says Craig Johnson, a sales associate in Marcus & Millichap’s Atlanta office.

Although the three-tenant rear of the shopping center is 67% vacant, the 276,706-sf retail level is 100% leased with 35 tenants. The tenant roster includes Washington Mutual, Blockbuster Video, Athlete’s Foot, Radio Shack, Plaza Hut, Dollar Tree and Cato’s. Kroger joined the center via new construction in 1993.

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