Slate Grocery REIT to Acquire Five Grocery-Anchored Properties in Three States for $54.3 Million

by Alex Tostado

Toronto — Slate Grocery REIT has entered into an agreement to acquire five grocery-anchored shopping centers in North Carolina, Florida and Georgia for $54.3 million. The five assets comprise 396,471 square feet and were 95 percent leased at the time of sale. The three North Carolina properties are Bells Fork, a 71,666-square-foot center in Greenville anchored by Harris Teeter; Tanglewood Commons, a 78,520-square-foot property in Winston-Salem anchored by Harris Teeter; and Westin Center, a 66,890-square-foot, Food Lion-anchored asset in Fayetteville. The Florida property is Mission Hills, an 85,078-square-foot property in Naples anchored by Winn-Dixie. The fifth property is Parkway Station, a 94,317-square-foot, Kroger-anchored retail center in Atlanta. The Toronto-based buyer expects to close the sale in the first quarter of this year. The seller(s) was not disclosed.

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