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Last Updated ( Friday, 02 August 2013 12:50 )
DATE_FORMAT_LC2=Thursday,August 01 2013 12:00:00 am EDT   
Nightingale Group Sells Rivergate Shopping Center

RivergateMacon, Ga. — Nightingale Group LLC has sold the grocery-anchored Rivergate Shopping Center, a 207,567-square-foot property in Macon, to Phillips Edison-ARC Shopping Center REIT Inc. The center was most recently renovated in 2012. It is 84 percent leased to tenants including Publix, Planet Fitness and Dollar Tree. The project also includes several outparcels, which are fully leased to tenants such as Batteries Plus, Buffalo Wild Wings, Dunkin' Donuts, IHOP, Panera Bread and Subway. Richard Reid and Jim Hamilton with HFF represented the seller in the transaction.

With the acquisition of Rivergate Shopping Center, Phillips Edison-ARC Shopping Center REIT has surpassed $700 million in total portfolio acquisitions. The company's total portfolio now includes 48 properties in 18 states with an aggregate purchase price of approximately $706 million.

Founded in 2005, New York City-based Nightingale Group is a privately held real estate firm. The company seeks value-oriented investments with repositioning or redevelopment potential.

 

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