ATLANTA—Lovejoy Village, an 84,711-square-foot, grocery-anchored retail center in Jonesboro, GA, has traded hands. Principal Real Estate Investors sold it to Phillips Edison-ARC Shopping Center REIT.
HFF marketed represented the seller. HFF managing directors Richard Reid and Jim Hamilton led the charge. The asset sold for $9.35 million free and clear of debt.
“Lovejoy Village was highly sought after by retail investors due to the grocers strong performance, newly renovated store and strategic location within the Atlanta MSA,” Hamilton tells GlobeSt.com. “The offering was highly contested amongst numerous institutional and private investors.”
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