Georgia mall bagged by New York buyer

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Marcus & Millichap arranged the sale of Belvedere Plaza, a 372,762-square-foot shopping plaza in Decatur, Ga. The value of the transaction was $21.3 million. Belvedere Plaza is situated on 26.4 acres. Thirty-five retail tenants occupied the main level and three additional tenants utilize the rear space at the time of sale. The 276,706-square foot retail level was 100 percent occupied by a variety of retail shops and eateries. Credit tenants include Washington Mutual, Blockbuster Video, Athlete's Foot, Radio Shack, Pizza Hut, Dollar Tree and Cato's. The rear space was 67 percent vacant at the time of sale. This transaction included two out-parcels occupied by fast-food establishments. Mimms Enterprises sold the property to a private syndication out of New York. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to