New York, NY, May 17, 2010 – Infinity Real Estate LLC, an INFINITY GROUP Company, announced today the purchase of Colony Plaza, a 215,000 square foot grocery-anchored neighborhood shopping center in Augusta, Georgia. Colony Plaza, anchored by a Food Lion Market and Roses Department Store, also features an eclectic mix of national and regional everyday retail offerings. Other leading, national retailers in the center include Cato’s It’s Fashion Metro, Colortyme, H&R Block, and Applebees. Colony Plaza is the most recent addition to Infinity’s national portfolio of neighborhood retail properties.
Located at Exit 7 of Interstate-520 (Bobby Jones Expressway), Colony Plaza benefits from traffic counts exceeding 100,000 cars per day. The center currently has 15,300 square feet of vacant space which offers a significant value-add leasing opportunity. “Considering its ‘recession resistant’ tenant roster, the recently completed renovation, and below average in-place rents, Colony Plaza is poised to provide stable long-term cash flow for years into the future. We continue to actively pursue these types of value-add shopping center opportunities throughout the Eastern U.S.” said Jonathan Zamir, of Infinity Real Estate.