ACPT Makes Room for Food Lion

ST. CHARLES, MD-American Community Properties Trust has sold 6.9 commercial acres near St. Patrick’s Road and Smallwood Drive in St. Charles–the 9,100-acre master planned community–to Cornelius, NC developer VinRob Two LLC, which plans to erect a Food Lion grocery store on the land. While the terms of the deal remain undisclosed, ACPT did reveal it plans to use $1 million of the sale proceeds to lessen a $7-million bank debt.

“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.