Shops at Cascade Sells for Record $320 Per SF

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ATLANTA-Making its fifth retail acquisition in metro Atlanta in the past 18 months, GDC Properties Inc. of Westchester County, NY has purchased the one-year-old, 44,000-sf Shops at Cascade from an affiliate of the Retail Planning Group for $14.1 million or $320.45 per sf.

Area retail brokers familiar with the 12-tenant property and the submarket at Fairburn and Cascade roads tell GlobeSt.com the $320.45-per-sf price is the highest this year among metro Atlanta retail investment sales. The acquisition is “consistent with our current strategy of buying quality locations in established markets,” says GDC chairman Samuel Ginsburg. He says the company is looking for other acquisitions in Atlanta, Florida and New York.