ATLANTA—Philips Edison & Company just sold Lilburn Corners to BDB Realty for $11.2 million. The 105,161-square-foot, grocery-anchored retail center is located in Lilburn, GA.

HFF represented Philips, then turned to help BDB arrange acquisition financing through Jefferies LoanCore. The $8.6 million securitized loan has a 10-year term and a fixed-rate for the duration of the loan.

“Lilburn Corners was highly pursued from retail investors due its Main and Main location within the Atlanta MSA, dense demographics and strong grocer sales,” Jim Hamilton, managing director at HFF, tells GlobeSt.com. HFF managing director Richard Reid worked with Hamilton to close the sale. HFF director Chip Sykes placed the debt.

Lilburn Corners is located at 375 Rockbridge Road Northwest at the confluence of Lawrenceville Highway (U.S. 29) and Rockbridge Road in the northeast area of the Atlanta MSA. The retail property is 92.4% leased and is anchored by Publix. Additional tenants include H&R Block, The UPS Store, Snap Fitness, and Marco's Pizza.  

Philips has been active in buying and selling retail centers lately. It bought Fairview Plaza in Pennsylvania for $12.5 million just days ago, just after buying Southwest Marketplace in Las Vegas for $30.4 million. In May, Philips added 17 centers to its portfolio. The firm reached its 100th center in early May.