The price wasn't disclosed in JDN's prepared statement. JDN officials couldn't be reached at GlobeSt.com's publication deadline to learn terms of the deal for the 93.7%-leased property.
But area retail brokers familiar with the north Atlanta submarket tell GlobeSt.com on condition of anonymity the current hard and soft construction costs of a comparable new retail center is at least $100 per sf. That would make 49% of the 313,006-sf center valued at about $15 million.
The center is anchored by a 103,242-sf Big Kmart; an 86,584-sf Kohl's department store; a 25,348-sf Michael's; and a 23,942-sf Staples.
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