The acquisition makes Inland the full owner of 20 shopping centers, representing just over four million sf, in the state.
Inland purchased 65% of the 160,188-sf center from Georgia-based Hendon Stonebridge LLC last September. The Stonebridge property is 90% leased. The anchors are an 86,584-sf Kohl's and a 35,546-sf Linens 'N Things. Other tenants are Radio Shack, Bath & Body Works, and Atlanta Bread Company.
Inland wouldn't disclose average quoted rents but area brokers tell GlobeSt.com on condition of anonymity the rate in the Roswell submarket is $15 per sf to $20 per sf.
Joe Cosenza, chairman of Inland Real Estate Acquisitions, and Charles Benvenuto, an outside counsel, negotiated the transaction for Inland.
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