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Riverstone Fetches $32 Million

Tennessee Company Sells Georgia Property
By Kate Jarboe
April 30, 2002 | 1:28 P.M.

Inland Retail Real Estate Trust in Oak Brook, IL, acquired the Riverstone Plaza Shopping Center for $32 million, nearly $106 per square foot. The 302,024-square-foot retail center built in 1998 at 1447 Riverstone Parkway in Canton, GA, is 100% leased. Major tenants include Belk's and Publix Supermarket, which occupy 60,103 square feet and 51,420 square feet, respectively. Inland Retail was represented in-house by its president, Barry Lazarus. Pat Davis represented the seller, Bright-Sasser Canton LLC of Tennessee. "The acquisition of Riverstone Plaza further enhances our position in the Atlanta market with a fine grocery and discount anchored shopping center," Lazarus said. With this purchase, Inland Retail has expanded its Georgia presence to include more than 3.9 million square feet of retail real estate.

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