320,000-SF Retail Center Fetches $65M

Ian Ritter is national online editor for GlobeSt.com/RETAIL.

KENNESAW, GA-Los Angeles firm SCI Real Estate Investments bought the 320,000-sf Cobb Place Shopping Center, outside of Atlanta, from Birmingham AL-based A.B./Cobb Place LP for roughly $65 million. The deal, brokered by Faris Lee Investments, is the latest in a string of acquisitions by SCI in the past year. SCI arranged its own financing for this deal, which closed in 41 days.

Cobb Place Shopping Center, 97% leased, is at the intersection of Barrett and Cobb Place parkways. American Signature Furniture, Bed Bath & Beyond, Cost Plus, DSW Shoes and Thomasville Furniture anchor the center.