Richmond Plaza in Georgia Sells for $19.5 Million

Augusta, Ga. — The grocery-anchored center was acquired by Phillips Edison-ARC Shopping Center REIT Inc.

Augusta, Ga.  — An affiliate of BPG Properties Ltd. has sold Richmond Plaza, a 178,167-square-foot, grocery-anchored center in Augusta, to Phillips Edison-ARC Shopping Center REIT Inc., for $19.5 million. The center was originally built in 1979 and most recently renovated in 2008. It is 93.5 percent leased to Kroger, JoAnn Fabric & Crafts and Harbor Freight Tools. Jim Hamilton and Richard Reid of HFF represented the seller in the transaction.

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