ATLANTA (April 20, 2016) – An affiliate of Piggly Wiggly Carolina Company has sold a fourteen asset portfolio of grocery-anchored shopping centers in South Carolina and Georgia. The portfolio is anchored by Harris Teeter, BI-LO and Piggly Wiggly and consist of 603,142 square feet. Thirteen of the shopping centers are located throughout eastern South Carolina in the cities of Bluffton, Charleston, Columbia, Coosawatchie, Georgetown, Greenwood, Ladson, Lexington, Monck’s Corner, Mullins, Pawleys Island, and St. Matthews. One shopping center is located in Darien, Ga. The portfolio was closed on April 12, 2016 and was sold to Wheeler REIT for $71 million.
“This grocery-anchored portfolio was an ideal acquisition for a REIT like Wheeler, which was able to instantly double its footprint in South Carolina, through the addition of fourteen centers in twelve different markets,” said Pierce Mayson, vice president for SRS’ Southeast Investment Sales Team. “Wheeler continues to be an excellent buyer, as it aggressively but strategically grows its portfolio throughout the southeast and mid-Atlantic states.”
Kyle Stonis, senior vice president, and Pierce Mayson, vice president, in the SRS Atlanta office brokered the transaction.
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