Oct
21

Easley Publix Anchored Center Sold

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Phillips Edison — ARC Shopping Center REIT Inc., a publicly registered, non-traded REITĀ  has acquired two shopping centers with a combined 150,243 square feet of space located in Georgia and South Carolina. The Company acquired Southampton Village, a 77,956 square foot Publix-anchored shopping center located in Tyrone, Georgia and Centerpoint, a 72,287 Publix-anchored square foot center located in Easley, South Carolina. Both Southampton Village and Centerpoint were constructed in 2003, and the Publix supermarkets at both locations are on long-term leases through 2023. The total purchase price for the two centers was approximately $15.2 million.

Both shopping centers benefit from their close proximity to growing United States metro areas. Southampton Village is located in suburban Atlanta, Georgia, which is the ninth-largest metro area in the United States and serves as the population, employment and transportation center of the Southeast. Centerpoint is located just 13 miles east of Greenville, South Carolina and, as part of the Greenville-Spartanburg-Anderson metropolitan statistical area, benefits from a population of approximately 1.4 million residents.

Categories : Greenville

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