A north Macon shopping center has been sold for an undisclosed sum.
In a joint venture, Atlanta-based Coro Realty Advisors and Marietta-based Harbour Retail Partners have acquired Rivoli Crossing shopping center at 4207 Forsyth Road from Marietta-based Retail Planning Corp., according to a news release. The 95,977-square-foot center is anchored by The Fresh Market, Stein Mart and Dollar Tree.
We bought Rivoli Crossing below replacement cost but still anticipate solid future income, Coro Realty President John Lundeen said in the release. National tenants make up 70 percent of the (gross leasable area) and contribute 64 percent of the existing income.
Coro Realty plans to renovate portions of the property, expand existing tenants and reposition and redevelop certain portions of the center, the release stated.
An effort to reach the company for additional information was unsuccessful late Monday.