REIT officials did not specify its dollar amount investment in a prepared statement. But based on the center's $21 million development cost, Inland paid Hendon Stonebridge $13.65 milion for a dominant ownership portion. Atlanta developer Charlie Hendon is a principal in Hendon Stonebridge.
Two outparcels, occupied by a bank and a school, are not part of the transaction. An 86,584-sf Kohl's Department Store and a 35,546-sf Linens 'N Things anchor Stonebridge.
The shopping center, in the 600 block of Crossville Road (State Road 92), is comprised of three single-story, multi-tenant buildings. Among the tenants are Radio Shack, Bath and Body Works, Rackroom Shoes and Atlanta Bread Co.
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