Search
 

ACPT Makes Room for Food Lion

ST. CHARLES, MD-American Community Properties Trust sells 6.9 acres of the 9,100-acre St. Charles master-planned community to a North Carolina developer that plans to build a Food Lion grocery store on the property.

By Barbra Murray | Updated on April 26, 2002

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.