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Cross Station Shopping Center Sells for $8M

ALBANY, GA-An affiliate of Norfolk, VA-based Harbor Group International LLC sells the 165,384-sf, $96.6%-leased property to HL Libby Corp. of Warrendale, PA for $8.4 million, or $50.49 per sf.

By Alex Finkelstein | Updated on April 19, 2004

ALBANY, GA-The 21-year-old, 165,384-sf Cross Station Shopping Center here is under new ownership today after HL Libby Corp. of Warrendale, PA bought the 96.6%-leased property for $8.4 million.

An affiliate of Norfolk, VA-based Harbor Group International LLC sold the property at Dawson and Old Dawson roads for $50.49 per sf. The average asking base rent at the center is $14 to $16 per sf, area retail brokers tell GlobeSt.com.

Jamie Hiatt and Dennis Carson of Miami-based Blackrock Retail Property Advisors negotiated for the seller. Hiatt works out of the company’s Atlanta office; Carson operates from Miami. The buyer represented itself.

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