For more retail coverage, click

ATLANTA-Making its fifth retail acquisition in metro Atlanta in the past 18 months, GDC Properties Inc. of Westchester County, NY has purchased the one-year-old, 44,000-sf Shops at Cascade from an affiliate of the Retail Planning Group for $14.1 million or $320.45 per sf.

Area retail brokers familiar with the 12-tenant property and the submarket at Fairburn and Cascade roads tell the $320.45-per-sf price is the highest this year among metro Atlanta retail investment sales. The acquisition is “consistent with our current strategy of buying quality locations in established markets,” says GDC chairman Samuel Ginsburg. He says the company is looking for other acquisitions in Atlanta, Florida and New York.

Ginsburg says the Atlanta acquisition is part of a new strategy for the growth of GDC Properties. That growth includes the ongoing purchase of $500 million in retail assets, primarily shopping centers, and the divestment of about $300 million in residential assets, mainly in the Southeast. Anchor tenants at the Shops at Cascade are Walgreens, Moe’s Grill and Up the Creek Restaurant.

Samuel Ginsburg and his brother Martin, both architects, are principals and founders of Hawthorne, NY-based Ginsburg Development Corp., a 40-year-old investment and development company with properties in New York, New Jersey, Connecticut, Florida, Tennessee and Georgia. GDC is Ginsburg Development’s investment arm.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.