Joint venture nabs Georgia shops

A partnership between Watt Commercial Properties Inc. and Australian-based Centro Properties Group has completed the acquisition of three shopping centers located in the greater Atlanta, Ga., market area, totaling nearly 700,000 square feet.

The total value of the transactions was not disclosed.

The three properties include:

• Mansell Crossing, which contains 324,000 square feet located in Fulton County. Major tenants include Barnes & Noble, Sports Authority, AMC Theatre, TJ Maxx and Rich's/Macy's.

• Barrett Place, totaling 219,000 square feet, located in Cobb County. Major tenants include Best Buy, Sports Authority, Linens & Things and Petsmart.

• Venture Point, featuring 148,000 square feet, located in Gwynette County. Major tenants include Circuit City and American Signature Furniture.

The properties will be held in the newly formed private REIT, Centro Watt American REIT II.

Jamestown Properties was the seller.

Santa Monica, Calif.-based Watt Commercial Properties owns and develops commercial real estate.

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