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LILBURN, GA-The Bedrin Organization of Glen Rock, NJ hasacquired its second neighborhood shopping center in the past sixmonths in the recreation-oriented and population-surging StoneMountain area of metro Atlanta.
Bedrin paid the joint venture of Jacksonville, FL-based RegencyCenters Corp. and Macquarie Countrywide Trust of Sydney, Australia$18.2 million, or $160.75 per sf, for Killian Hill. The21-year-old, 113,216-sf property is about 20 miles northeast ofDowntown Atlanta. Principal Global Investors, the asset managementdivision of Des Moines-based Principal Financial Group, financedthe acquisition.
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