RCG Ventures has sold the 24,000-square-foot East Athens Marketplace in Athens to Halpern Enterprises for $3.9 million. The center is fully leased to tenants including Dollar Tree, Hibbett Sports, Radio Shack, Little Caesars and AT&T.
The property is shadow anchored by a Walmart Supercenter.
“This center was appealing to us because of the high traffic of the Walmart Supercenter,” says Steve West, vice president of development for Halpern. “The center is also in great shape, and has upside potential that we plan to take advantage of.”
Halpern plans to expand the center, as well as lease two unoccupied outparcels that total approximately 3.4 acres.
The acquisition marks Halpern’s first acquisition in Athens and the company’s 28th center in Georgia.
Tony D’Ambrosio and Joe Montgomery of Colliers International’s Atlanta office represented the seller. Halpern Enterprises was self-represented in the transaction.