Shopping center development and management company expanding

Staff Report
Published Dec. 31, 2012

A Southeastern development and shopping center management company that owns several properties and office spaces across South Carolina, has acquired an additional property in Georgia.

Pineland Station in Hilton Head, which is owned by Wheeler Real Estate Investment Trust Inc., offers dining and shopping. (Photo/Pineland Station)
Pineland Station in Hilton Head, which is owned by Wheeler Real Estate Investment Trust Inc., offers dining and shopping. (Photo/Pineland Station)

Wheeler Real Estate Investment Trust Inc., based on Virginia Beach, Va., has purchased a shopping center near Macon, Ga., for $2.3 million.

The company now owns 11 properties in Georgia, Virginia, North Carolina, South Carolina, Florida and Oklahoma, with the majority of its holdings in South Carolina. The company said it has plans to expand across the Southeast to Texas, the Midwest and part of the Northeast, including Illinois, New Jersey and Pennsylvania.

Chairman and CEO Jon S. Wheeler said in a statement that because the Georgia shopping center is a 100% leased center anchored by a grocery store, the expansion fits in well with the company’s portfolio.

The company went public last year with an initial public offering in November, and used part of the proceeds to complete the Georgia purchase from its affiliate, Wheeler Interest LLC.

In South Carolina, Wheeler Real Estate Investment Trust owns commercial and office space at the following locations:

  • Clover Plaza, Clover
  • Pineland Station, Hilton Head
  • Sangaree Plaza, Summerville
  • South Square, Lancaster
  • St. George Plaza, St. George
  • Waterway Plaza, Little River
  • Westland Square, West Columbia
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