Atlantic Station's Shopping District Finds a Buyer
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Atlantic Station's retail mini-city has found a new buyer. We just don't know who it is officially yet. Sources tell us North American Properties has its 586k SF trophy retail juggernaut under contract to an undisclosed buyer for a year-end close. This comes just three months after North American Properties put it up for sale, tapping Eastdil Secured to handle the asset sale. North American's Mark Toro, who was a panelist this past week at our 3rd Annual Future of Midtown event, declined to comment about the transaction. And officials with Eastdil did not return calls. North American purchased the retail portion—part of the larger 1.3M SF Atlantic Station project—in 2010 for $78M, and has since rejiggered the tenant lineup and helped boost sales. It's now 91% leased with such tenants at Publix, H&M, LA Fitness and Regal Cinemas.