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Phillips Edison buys grocery-anchored center
Cincinnati — Phillips Edison-ARC Shopping Center REIT has acquired Paradise Crossing, a 67,470-sq.-ft. shopping center anchored by a Publix grocery store.
Located in Lithia Springs, Ga., a suburb of Atlanta, Paradise Crossing is 93.7% occupied. When combined with the Publix lease, 64% of the rents for the center derive from national tenants.
The acquisition brings the REIT’s portfolio to 50 grocery-anchored properties, with an aggregate portfolio purchase price of approximately $729.6 million. -
Domino’s debuts new design in metro New Orleans
New Orleans — Domino’ Pizza franchise operator in Alabama, Louisiana and Mississippi, RPM Pizza, has debuted a new Domino’s store design on the West Bank of the Mississippi River in the New Orleans metropolitan area.
The new design includes a lobby, open-area viewing of food preparation and a lobby screen that tracks carryout orders electronically. In addition, chalkboards invite customers to leave feedback for store employees.
Dominos boasts more than 10,400 stores in more than 70 international markets.