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North Charleston retail outparcels near Wal-Mart change hands

February 25, 2016

Feb 24 2016 1:47 pm | By John McDermott | The Post and Courier

An Ohio company that bought the Wal-Mart-anchored North Pointe Plaza in North Charleston last year has purchased the adjacent outparcels.

Phillips Edison Grocery Center REIT II Inc. paid $4.9 million this month for the properties occupied by retailers AC Moore and Dollar Tree through an affiliate, county land records show. The two stores have a combined 50,000 square feet of space on about 4.4 acres. The seller was DDR Corp., the previous owner of North Pointe Plaza.

“With this acquisition, the company assumed full control over the leasing and property management of the entire center and its diverse merchandise mix,” Cincinnati-based Phillips Edison said in a written statement.

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Thomas E. Burns, III
July 29, 2015
February 22, 2016

I subscribe to Blue Vault to keep up with the sponsors and their wholesalers! The analysis keeps me up to date with the various portfolios and the way they are managed, including the differences between them.