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Charlotte Commercial Real Estate

FOOD LION CENTER BUYS TOTAL $12M

One thing people always buy is food. (It's how Hot Pockets continue to get produced.) So outside investors are going where the money is. Cincinnati-based Phillips Edison-ARC Shopping Center REIT just bought two NC Food Lion-anchored shopping centers. Phillips, in a JV with PECO-ARC, paid almost $12M for the two properties. One is in Fayetteville and the other is in Sanford, says Phillips Edison spokesman Tony DeFazio. Phillips is a public, non-traded REIT focused on the acquisition and management  of grocery-anchored neighborhood and community shopping centers.

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