Jan
21

Wheeler to Buy 14 Centers from Piggly Wiggly Carolina

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sold signsWheeler Real Estate Investment Trust Inc. of Virginia has entered into an agreement to buy 14 shopping centers in Georgia and South Carolina. Wheeler is acquiring the properties for $71 million from Piggly Wiggly Carolina Co., a Mount Pleasant-based firm that sold 29 of its Piggly Wiggly supermarkets in 2012 to Bi-Lo and Harris Teeter. The Mount Pleasant company is a sister company to Piggly Wiggly. The deal is set to close Jan. 29.

Wheeler’s acquisition will include three Charleston shopping centers, as well as locations in Greenwood, Mullins, Bluffton, Georgetown, Pawleys Island, Lexington, St. Matthews, Columbia and Ridgeland in South Carolina and one location in Darien, Georgia. The combined properties make up more than 603,000 square feet and are 92 percent occupied, according to Wheeler Real Estate, which already owns 19 shopping centers in South Carolina.

 

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