Jan
07

Cureton Town Center Acquired for $13.9M

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The publicly registered non-traded REIT Phillips Edison — ARC Shopping Center REIT Inc., which is focused on grocery-anchored neighborhood and community shopping centers, has completed the seeding of the PECO-ARC Institutional Joint Venture I and directly acquired the Cureton Town Center in Waxhaw, NC.

The Joint Venture acquired Cureton Town Center, a 74,557 square foot grocery-anchored shopping center located in Waxhaw, North Carolina for $13.9 million. The shopping center is anchored by Harris Teeter on a long-term lease through March 2027. Other key tenants include Fifth Third Bank, SunTrust Bank, Great Clips, Papa John’s, and Moe’s Southwest Grill. Cureton Town Center is 91.9% occupied. Cureton Town Center is located approximately 12 miles south of Charlotte, NC.

 

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