Slate Retail REIT Acquires South Carolina Plaza
Slate Retail REIT has reached a deal to acquire Little River Pavilion in Little River, SC, just up the road from Myrtle Beach (fun fact: each May Little River hosts the world famous Blue Crab Festival). The 63k SF retail plaza, 91% occupied and anchored by a Lowes Foods grocery store and Dollar Tree, is being purchased for US$10.1M. The deal is expected to close this quarter. Slate Retail REIT’s portfolio includes 65 US grocery-anchored properties. In July, the trust announced the US$7.6M acquisition of the Winn-Dixie grocery store-anchored Meres Town Center in Tarpon Springs, FL.