ATLANTA—The Atlanta area is about to get a flood of new retail space. Rooker, an Atlanta-based real estate development and construction company, has acquired the Shannon Mall site in Union City, GA, just south of Atlanta. Shannon Mall, which at its peak featured 95 stores, has been vacant since closing in November 2010.

Rooker acquired the site from Sears, Roebuck and Co. Inc., Lee Group USA, MB-REO Retail, and MB-REO Land. The sale price was not disclosed. Rooker plans to redevelop the 90-acre property.

"Union City has a proven track record of attracting business investment and manufacturing operations due to its great access to I-85 and business-friendly climate," says John Rooker, CEO of Rooker. "We're very excited about the opportunity for redevelopment and job creation at the former site of Shannon Mall, which is one of hundreds of regional malls that have closed across the country during the recession. This strategically located site, which is adjacent to I-85 and less than 10 miles from Hartsfield-Jackson International Airport, represents a prime opportunity for national and global companies to establish business operations."