Home Depot puts old Lindbergh store site up for sale on Home Services

Jan

Home Depot puts old Lindbergh store site up for sale

posted by admin in Home Depot

The Home Depot Inc. has put the site of its former store at Georgia 400 and Sidney Marcus Boulevard back on the market.

Home Depot closed the store in 2006 and opened a new one a short distance away at the Lindbergh Plaza development, freeing up the old, 14-acre site for sale and redevelopment.

A deal two years ago to sell the old store site for $27.5 million to developer Easlan Capital of Atlanta Inc. fell apart. Easlans investors had planned to use the property for a Mercedes-Benz dealership.

A Home Depot spokesman said the retailer is accepting offers, and is being represented by Mike Folio of Corporate Property Dispositions LLC, which is now a division of The Shopping Center Group LLC.

The building, completed in 1996, is vacant. The store part is 140,323 square feet and the garden center is 28,540 square feet.

Home Depot expects a lot of interest from developers because the property is in the Lindbergh area.

Sembler selects Balfour Beatty. The Sembler Co. has selected Balfour Beatty Construction LLC to rebuild The Prado shopping center in Sandy Springs into a 27-acre refurbished development.

The grand reopening of the new Prado is expected in fall 2008.

Redevelopment plans of the 34-year-old complex on Roswell Road include adding 345,000 square feet of retail space, along with 15,000 square feet of office.

Anchor tenants for the four-level center will include Home Depot, Publix and Target. A parking deck that will not be visible from Roswell Road also is included in the project. During construction, existing retail and office tenants will remain open.

Jeff George, vice president in charge of Balfour Beatty Constructions commercial group in Atlanta, said Semblers commitment to keeping open its existing retail tenants, including Joli-Kobe Caf%26eacute; and Bakery, Frankies Sports Grill and 5 Seasons Brewery, adds complexity to the construction job.

Building diversity

Atlanta Mayor Shirley Franklin will host the second annual Global Diversity Summit in Commercial Real Estate, July 16-18 at the Georgia World Congress Center.