Wednesday, July 2, 2014

HFF closes $9.35 million sale of Lovejoy Village in Atlanta MSA


Lovejoy Village retail center, Jonesboro, GA
ATLANTA, GA – HFF announced it has closed the sale of Lovejoy Village, an 84,711-square-foot, grocery-anchored retail center in Jonesboro, Georgia.

                HFF marketed the property on behalf of the seller, Principal Real Estate Investors. Phillips Edison-ARC Shopping Center REIT purchased the asset for $9.35 million free and clear of debt.

                Lovejoy Village is located at 10375 U.S. Highway 41 about 20 miles south of downtown Atlanta in Jonesboro.  Completed in 2001, the property is 88 percent leased to tenants including Kroger.


                The HFF investment sales team representing the seller was led by managing directors Richard Reid and Jim Hamilton.

For more information on Phillips Edison-ARC Shopping Center REIT Inc., please visit the company’s website at www.phillipsedison-arc.com.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel (main) 617-338-0990 | (direct) 617-848-1572 | cel 617.543.4873 | www.hfflp.com


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