For more retail coverage, click GlobeSt.com/RETAIL.
ATLANTA-Making its fifth retail acquisition in metro Atlanta inthe past 18 months, GDC Properties Inc. of Westchester County, NYhas purchased the one-year-old, 44,000-sf Shops at Cascade from anaffiliate of the Retail Planning Group for $14.1 million or $320.45per sf.
Area retail brokers familiar with the 12-tenant property and thesubmarket at Fairburn and Cascade roads tell GlobeSt.com the$320.45-per-sf price is the highest this year among metro Atlantaretail investment sales. The acquisition is "consistent with ourcurrent strategy of buying quality locations in establishedmarkets," says GDC chairman Samuel Ginsburg. He says the company islooking for other acquisitions in Atlanta, Florida and NewYork.
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