"St. Charles is a leading example of a smart growth community," ACPT's Craig Renner tells GlobeSt.com. "The Food Lion adds to the smart growth concept that we've tried to utilize for 30 years." Food Lion will join other major retailers such as Hecht's, Kohl's, Safeway, Sears, and Target.

In a statement on the transaction, ACPT president and COO Edwin L. Kelly says, "this sale demonstrates the continuing appeal of commercial property in St. Charles, and is indicative of the type of quality enterprises that are looking to locate in our planned community because of the demonstrated success that large and small retail stores have enjoyed here." Other property sales announced this year include the disposition of 5.6 acres to Jimmy Richards and Sons Excavating and 32 acres to Freestate Electric, LLC.