DEUTSCHE ACQUIRES SHOPS AROUND LENOX FOR $71.8M

ATLANTA — Deutsche Asset & Wealth Management has acquired the Shops Around Lenox, a 120,000-square-foot retail center located adjacent to Lenox Mall in Atlanta’s Buckhead submarket. Deutsche purchased the property from a joint venture between Alex Brown Realty Inc. and Heather Weatherholtz Properties for approximately $71.8 million, according to Atlanta Business Chronicle. The seller purchased the retail center in 2009 and invested approximately $20 million to reposition the asset. Tenants of Shops Around Lenox include Crate and Barrel, Paper Source, lululemon athletica, Cosabella and Suit Supply.