SANFORD, NC-Two shopping centers located in North Carolina have been purchased by Phillips Edison ARC Shopping Center REIT Inc. for a total price of $11.6 million. The properties were Tramway Crossing located in Sanford and Westin Centre situated in Fayatteville. The two centers' anchor tenants are Food Lion Inc. grocery stores.
Phillips Edison ARC Shopping Center REIT is a non-traded, public REIT. It is an affiliate of real estate development company, Phillips Edison & Co. based in Cincinnati. For the full story, go to Business Courier Serving Greater Cincinnati .
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