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.
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