REIT Closes on $60.5M Portfolio of Atlanta Assets
Grassland Crossing in Alpharetta
Phillips Edison–ARC Shopping Center REIT Inc. has completed the portfolio acquisition of six grocery-anchored shopping centers containing approximately 507,668 square feet in the Greater Atlanta Metro Area at an aggregate purchase price of approximately $60.5 million.
The portfolio is anchored by five Kroger grocery stores and one Publix grocery store. This acquisition brings the Company’s total portfolio to 32 properties with 13 leading grocers in 15 states with an aggregate purchase price of approximately $367.5 million.
As citybiz real estate reported on January 6, the assets in the portfolio trade include:
• The Shops at Westridge in McDonough, Georgia;
• Mableton Crossing in Mableton, Georgia;
• Hamilton Ridge in Buford, Georgia;
• Fairview Oaks in Ellenwood, Georgia;
• Grassland Crossing in Alpharetta, Georgia; and
• Butler Creek in Acworth, Georgia.
The portfolio is approximately 90.1% leased.