Business

Virginia-based company buys north Bibb County shopping center

Buffalo Wild Wings opened in the Rivergate Shopping Center on Tom Hill Sr. Boulevard at Northside Drive in 2014. The shopping center, which is anchored by Publix, has been bought by Virginia-based Wheeler Real Estate Investment Trust Inc.
Buffalo Wild Wings opened in the Rivergate Shopping Center on Tom Hill Sr. Boulevard at Northside Drive in 2014. The shopping center, which is anchored by Publix, has been bought by Virginia-based Wheeler Real Estate Investment Trust Inc. wmarshall@macon.com

A north Bibb County shopping center that has gotten several new tenants during the past few years has a new owner.

Virginia Beach, Virginia-based Wheeler Real Estate Investment Trust Inc. bought Rivergate Shopping Center on Tom Hill Sr. Boulevard at Northside Drive, according to a news release from Wheeler. The shopping center is anchored by Publix, which has been in the center for more than 20 years, and has other national tenants. Outparcel tenants — those in buildings separate from the strip center — include Starbucks, Buffalo Wild Wings, IHOP, Planet Fitness and Tuesday Morning.

“The company will evaluate the potential sale of all or a portion of the outparcels as part of its capital recycling strategy in the near future,” the release said.

The company paid $37.25 million, or $181 per leasable square foot.

“We believe Rivergate Shopping Center is a high quality, stable center to add to our portfolio which now is comprised of (65) retail centers and nine land parcels,” Jon Wheeler, founder, chairman and CEO of the company, said in the release. “I am thrilled to be adding Publix to our tenant roster.”

Linda S. Morris: 478-744-4223, @MidGaBiz

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