‘Underperforming’ Georgia center sold for $14M

Buyer will spend $1 million on exterior renovations

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Beverly Hills, Calif.-based StarPoint Commercial Properties LLC has purchased Interlochen Village, an 89,000-square-foot retail center in Norcross, Ga., for $14 million. The property, located at 5270 Peachtree Parkway, is situated on 8.9 acres and was sold by Ivillage LLC. "Interlochen Village is an excellent investment for us, as it is an underperforming center that offers tremendous upside potential," Evan Farahnik, principal of StarPoint Commercial Properties, said in a statement. The company will be implementing numerous improvements, including a $1 million renovation of the façade and common areas, making the center more contemporary and complimentary to the newer retail centers in the area, according to a press statement....