Bell ownership group sponsors $95-million Atlanta development
Investors working with Greensboro's Steven D. Bell & Co. recently purchased 35 acres in North Atlanta for a $95-million retail development, the real-estate company announced in a news release.
A Bell-sponsored ownership group has partnered with the Fla.-based Sembler Company on the project - a four-level, 345,000 square-foot office and retail center called The Prado in Sandy Springs. The project, a redevelopment of an existing retail, apartment and office center, is slated to open in early 2009 and will include a Target, grocer Publix, Staples and Home Depot, according to the release.
"From a financial investment point of view, this is one of the most ambitious projects we've undertaken in the company's history," Steven Bell, Bell's chief executive officer, said in the release.
Bell & Co. reports that its collaborations with Sembler have produced nearly $600 million in project during the past six years. Bell manages a portfolio of residential and retail properties valued at about $2.7 billion, the company reports.
Comments (2)
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Hey Buzz, have you heard anything about plans for rennovating the Food Lion Shopping center near the intersection of Pisgah Church and Lawndale? I heard a rumor that the whole thing is going to be remodelled and that the Fresh Market (currently nextdoor) will be moving in.
Posted on December 14, 2006 1:05 PM
Roch -
I've heard that rumor but have, as yet, been unable to verify it. That's certainly a story for us, if it's true.
Posted on December 14, 2006 2:10 PM