(Save the date: RealShare Industrial2012 comes toThe Bankers Club,Miami, December 5 - 6.)
ATLANTA—Jones Bridge Shopping Center is the latestretail REO asset to trade in the Southeast. Alender from El Segundo, CA sold the 20,500-square-footshopping center to an Atlanta investment companyfor $1.025 million, or $50 per foot.
Mac McCall, regional managing partner forFranklin Street, and his colleague MarcIrvin, represented the seller in the transaction. McCalltells GlobeSt.com the retail center includedsignificant deferred maintenance, which skewed the price per squarefoot. He says the buyer will have to complete substantialimprovements to make it leasable and spend tenant improvementdollars to entice retailers to the shoppingcenter.
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