REBusinessOnline

ARC REIT, Lincoln Property Purchase Patton Creek in Hoover for $83.5M

HOOVER, ALA. — American Realty Capital – Retail Centers of America I & II, a non-traded retail REIT, and Lincoln Property Co. Southeast have acquired the 512,871-square-foot Patton Creek in Hoover for $83.5 million. Patton Creek comprises 65.7 acres of open-air retail space occupied by tenants such as Dick’s Sporting Goods, Rave Motion Pictures, Ross Dress for Less, Cost Plus World Market, DSW, Barnes & Noble, buybuyBABY and Christmas Tree Shops. Patton Creek was approximately 95 percent leased at the time of sale. The seller was Patton Creek Holdings LLC.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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