Atlanta-area shopping center changes hands

Marcus & Millichap brokered the sale of the 161,464-square-foot Parkaire Landing Shopping Center in Marietta, Ga.

The value of the transaction was approximately $18.2 million.

Parkaire Landing is located at 4880 Lower Roswell Road. The center was constructed in 1973 on approximately 19.2 acres and is shadow-anchored by a Kroger supermarket.

A Ft. Lauderdale, Fla.-based private investor sold the property to a Massachusetts-based investment partnership.

Occupancy was 95 percent at the time of sale.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

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