A portion of Columbus Park Crossing, a popular Columbus shopping and dining center, is being sold by the Atlanta developer that has developed it.
Columbus Park Crossing LLC, a Delaware corporation owned by Atlanta developer Ben Carter Properties, is selling 750,000 square feet of the center to Alvero Acquisition Corp., a New York-based company. Steven Cadranel, a Ben Carter executive vice president, said the deal would close this week.
Alvero Acquisition is purchasing the portion of the center north of Whittlesey Boulevard from La-Z-Boy to Carmike Cinemas. The purchase price will be more than $90 million, Cadranel said. Ben Carter Properties will continue to manage the property and develop the center south of Whittlesey Boulevard, Cadranel said.
The change in ownership will not affect those who shop or eat at Columbus Park establishments, Cadranel said.
"I want to emphasize that," Cadranel said. "We will continue to be the public face of the project."
Columbus Park Crossing includes more than 60 retailers and 13 restaurants. The entire center, including the Wal-Mart and Sam's Club, is more than 1.2 million square feet. The center opened five year ago.