JDN Buys Part of Prime Retail Center

ATLANTA-JDN Realty Corp. is buying 49% of a six-month-old, 313,006-sf shopping center owned by Atlanta developer Charlie Hendon and Hendon/Atlantic Rim John’s Creek at Peachtree Parkway and McGinnis Ferry Road in north Atlanta.

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.