On January 28, Chicago-based Equity Office Properties Trust, headed by Sam Zell, sold the 16-acre Park Place Shopping Center at 4505 Ashford Dunwoody Road in Atlanta to Bell Sembler I LLC, an affiliate of The Sembler Co. Sembler, a retail store which carries women's and men's designer clothing, spent somewhere in the $16 - $18 million range for this investment. This 67,834-square-foot shopping center houses 18 tenants renting at an average of $30 per square foot. Some of the anchor tenants include Bank of America, Talbot’s, H. Stockton, and McKendricks Steak House. Equity Office Properties is the nation's largest REIT with a total capitalization of $28 billion. Equity Office was represented by Scott Orton, Michael Zibilich, and Stan Ashley, all managing directors at Bullock Mannelly Partners, an Atlanta commercial real estate, investment, finance, and brokerage firm. Michael Crawford, director of research at Bullock Mannelly Partners, stated, "The Central Perimeter Retail Submarket has historically been one of the strongest in Atlanta with low vacancy and strong rental growth. Park Place provides an excellent investment opportunity due to its great location with easy access from I-285, proximity to Perimeter Mall, and high average household incomes in neighboring Dunwoody and Sandy Springs residential areas."