The mall is off I-75 at Exit 311, about 10 miles south of Macon, GA. It was built in 1988 and is 68% leased. Tenants include Levi, Dress Barn, Kay-Bee Toys, Famous Footware and Sara Lee-Leggs/Hanes.
The buyer, Peach Festival Outlet, LLC, represented itself in the purchase. Jon Kleinberg, vice president, and Kevin Markwordt, senior managing director of the Atlanta office of New York-based Insignia/ESG's Capital Advisors, represented LaSalle Bank.
In a printed statement, Markwordt says the property "is in good condition and provides the buyer with an excellent upside opportunity."
He cites its visibility north and south bound from I-75 and its proximity to Robins Air Force Base, "a major economic engine for the MSA," as assets.
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