Phillips Edison-ARC REIT buys Kings Crossing

BUYER: Kings Crossing Station LLC, Cincinnati
SELLER: RC FL-King's Crossing LLC
PROPERTY: 4824-4886 Sun City Center Blvd. also known as 4874 Sun City Center, Sun City Center
PRICE: $14 million
PREVIOUS PRICE: $7.83 million, June 2001
LAW FIRM ON DEED: Rogers Towers PA, Jacksonville

PLANS, DESCRIPTION:
Phillips Edison-ARC Grocery Center REIT II Inc. purchased the 75,020-square-foot Kings Crossing shopping center for $14 million.

The price equated to $187 per square foot. That figure is higher than the two-year average price per square foot for retail space ($138) in the Tampa Bay area, according to the CoStar Group.