The developer behind Krog Street Market and the upcoming Atlanta Dairies project has bought a huge Memorial Drive property.

A Paces Properties representative confirms to Curbed Atlanta the company has closed a deal that adds The Atlantic Shopping Center — a large suburban-style strip near the southern junction of Edgewood and Kirkwood — to their growing portfolio on Memorial Drive.

The move continues a wave of investment in Memorial Drive that stretches from downtown to past Moreland Avenue and beyond.

No further details about the property's cost or its potential uses were available from Paces. Expect updates if they come.

For now, the 1599 Memorial Drive address is home to an outbuilding of suites called The Entrepreneurium (a small-business incubator) and a thrift shop that supports local veterans called VEO Thrift. That's about it. It has seas of available parking. Like enough for a concert.

Former tenants have included Family Dollar and Club ESSO.

UPDATE:

A Paces Properties rep now sends the following:

How much space?

110,000 square feet in retail space.

What to expect in the future?

Adaptive-reuse. It'll be reborn as The Atlantic Shopping Center. It technically used to be that many years ago, and now Paces is bringing back the name.

Added commentary:

The project will be "great for the neighborhood including Kirkwood, East Atlanta, Grant Park, Reynoldstown," a spokesperson said. "(Officials are) already in negotiations for 70,000 square feet for pre-lease tenants."

Here are some glimpses around the property, as it currently stands: