Wheeler REIT Acquires Metro Atlanta Shopping Center for $12.4 Million

by Scott Reid

Lilburn, Ga. — Wheeler Real Estate Investment Trust Inc. (Wheeler REIT) has purchased Beaver Ruin Village, a 74,038-square-foot shopping center located in Lilburn, a suburb of Atlanta.

The Virginia Beach, Virginia-based REIT purchased the center for $12.4 million, or approximately $166.81 per square foot, using a combination of cash and bank debt. The shopping center is 94.9 percent leased to tenants such as Chase Bank, State Farm Insurance, T-Mobile, Firehouse Subs and Sally Beauty Supplies. The property also features three outparcels leased to McDonald’s, Popeyes and Captain D’s. 

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