155
ATLANTA — A joint venture between Alex. Brown Realty and affiliates of Healey Weatherholz Properties has purchased the 126,000-square-foot Shops Around Lenox retail center from an undisclosed seller. The single-story property, which was built in 1979, is located on Around Lenox Road in Atlanta. State Farm Life Insurance Co. provided debt financing for the acquisition; HW Lenox, an affiliate of Healey Weatherholz, provided $4.2 million, and ABR Chesapeake Fund III contributed $6.3 million. The buyers are planning a renovation starting this winter, which will be complete by next spring. Upgrades include new exterior finishes, adding public art and bringing in new retailers. Current tenants will remain open during construction.