March 11, 2020
Slate Retail REIT has entered into an agreement to acquire a seven-property, grocery-anchored retail portfolio in the Mid-Atlantic and Southeast for $106.5 million.
The portfolio totals 623,770 square feet and consists of Alexander Pointe, a 57,710-square-foot center anchored by Harris Teeter in Charlotte, N.C.; Bermuda Crossroads, a 122,570-square-foot center anchored by Food Lion in Richmond; Gainsborough Square, a 88,862-square-foot center anchored by Food Lion in Virginia Beach; Indian Lakes Crossing, a 64,973-square-foot center anchored by Harris Teeter in Virginia Beach; Harper Hill Commons, a 96,914-square-foot center anchored by Harris Teeter; Renaissance Square, a 80,467-square-foot center anchored by Harris Teeter in Charlotte, and Stone House Square, a 112,274-square-foot center anchored by Weis Markets in Baltimore.
“We are focused on growth and are excited to build on the foundation we spent the last two years creating,” said David Dunn, incoming CEO at Slate. “These properties are high-quality, stabilized grocery-anchored assets, which at US$106.5 million is the REIT’s largest acquisition to date.”
The seller was not disclosed.
*Pictured above is Bermuda Crossroads in Richmond.
For comments, questions or concerns, please contact David Cohen