Cincinnati — Phillips Edison ARC has acquired two Food Lion-anchored shopping centers in North Carolina.
Tramway Crossing in Sanford, N.C., is one of two shopping centers acquired by Phillips Edison-ARC Shopping Center REIT.Cincinnati — Phillips Edison ARC Shopping Center REIT has acquired two Food Lion-anchored centers in North Carolina for a combined price of $11.6 million. The REIT acquired the 66,890-square-foot Westin Centre in Fayetteville, N.C., and the 62,382-square-foot Tramway Crossing in Sanford, N.C. Both centers are anchored by Food Lion. Westin Centre is 100 percent leased, while Tramway Crossing is 95.5 percent leased. Westin Centre is also home to CVS/pharmacy, Family Dollar, Subway and Rent-A-Center, while tenants at Tramway Crossing include CVS/pharmacy, Family Dollar and H&R Block. Phillips Edison ARC Shopping Center REIT is co-sponsored by Cincinnati-based Phillips Edison & Company and AR Capital.