Bisnow Atlanta, a real estate publication, reported Jan. 5 that in November the $38.2 million loan for City Walk was foreclosed on. The property has been in receivership since 2010 when DeKalb Judge appointed Colliers International Management to handle leasing at the property, which has been plagued by empty storefronts and perceptions that it was a disappointment as a commercial venture.
Jon Barry, with the Atlanta branch of Colliers, said in an email message that the foreclosure has been delayed and that the company is “logging interest” from investors.
Businesses first started moving in to the Sandy Springs development in 2005. In 2007, CK City Walk Owner LLC of Tucker bought CityWalk from Maxwell Properties, the Sandy Springs company that developed the shopping center and adjacent townhomes.
