PITTSBURGH — ECHO Realty has purchased a portfolio of eight Harris Teeter- and Publix-anchored shopping centers in the Southeast for $125 million. The assets span more than 500,000 square feet.
“We are very excited to have the opportunity to add these high-quality, grocery-anchored centers to our portfolio,” says Tom Karet, CEO of ECHO Realty. “The centers fit perfectly with ECHO’s strategy of acquiring well-located centers anchored by the No. 1 or 2 grocer in the market.”
The portfolio comprises four Harris Teeter-anchored shopping centers in North Carolina, including Beau Rivage Marketplace in Wilmington, The Shoppes at Highland Creek in Charlotte, The Village at Byers Creek in Mooresville and a freestanding Harris Teeter on Croatan Highway in Kill Devil Hills.
The other properties in the portfolio include two Publix-anchored properties in Florida: Partin Village in Kissimmee and Shoppes at Price Crossing in North Port; a freestanding Harris Teeter on Baltic Avenue in Virginia Beach; and one Publix-anchored property in Georgia: Riverwood Town Center in Evans.
ECHO Realty is a privately held developer, owner and operator of commercial real estate. The company is headquartered in Pittsburgh with offices in Indianapolis and Washington, D.C.
ECHO Realty’s portfolio consists of 190 properties totaling more than 9 million square feet of retail space located in the Mid-Atlantic, Southeast and Midwest.
— John Nelson