Atlanta-area shopping center changes hands

Marcus & Millichap executes deal

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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. *** What's your opinion? Send your Letter to the Editor to