Source: Douglas Sams, Atlanta Business Chronicle
The S.H. Kress department store is the latest historic building to become part of a $500 million redevelopment of south downtown.
Newport US RE bought the 34,000-square-foot art deco building on Broad Street for almost $3.3 million, according to Fulton County property records. Ackerman Broad Street LLC was the seller.
S.H Kress was a five-and-dime department store chain that operated across the country. In Atlanta, the store was built in 1937 at 46-69 Broad Street.
Now, it becomes a key part of an assemblage of historic properties just south of the Five Points MARTA station, said Newport’s Executive Vice President Katharine Kelley.
The real estate company’s master plan includes six to eight blocks on Peachtree, Broad and Forsyth Streets.
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