Sep
27

Greenville’s Milestone Plaza Sold

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Milestone Plaza on Pelham Road in Greenville was one of 36 shopping centers in the Southeast and Maryland sold by Equity One Inc. for $473 million to Blackstone Real Estate Partners VII. The 89,721-square-foot shopping center is anchored by Bi-Lo. Other tenants include Ruby Tuesday, Advance Auto, Great Clips, Allstate and RadioShack.

The other shopping centers sold as part of the Blackstone acquisition are predominately located in the Atlanta, Tampa, Fla., and Orlando, Fla., markets, with additional properties located in North Carolina, Alabama, Tennessee and Maryland.

The portfolio generated net operating income of approximately $35.4 million for the 12-month period ended June 30 and was 91% occupied, Equity One said.

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