PURCHASE AND SALE AGREEMENT BETWEEN FAIRFIELD INVESTORS, LLC, AS SELLER, AND WHEELER REIT, L.P., AS BUYER DATE: AS OF MAY 10, 2013Purchase and Sale Agreement • May 15th, 2013 • Wheeler Real Estate Investment Trust, Inc. • Real estate investment trusts • Virginia
THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made as of the 10th day of May, 2013 (the “Effective Date”) by and between FAIRFIELD INVESTORS, LLC, a Virginia limited liability company (the “Seller”), and WHEELER REIT, L.P., a Virginia limited partnership (or its assignee pursuant to Section 9.1) (the “Buyer”).
ContractWheeler Real Estate Investment Trust, Inc. • May 15th, 2013 • Real estate investment trusts
On May 10, 2013, Wheeler Real Estate Investment Trust, Inc. (the “Company”), through its subsidiary of Wheeler Real Estate investment Trust, L.P., entered into a Purchase and Sale Agreement (the “Agreement”) with a related party to acquire the Starbucks/Verizon building (the “Property”) located in the Fairfield Shopping Center in Virginia Beach, Virginia for a purchase price of approximately $1.39 million. Closing the Agreement is subject to obtaining the necessary financing and customary due diligence. The Property is a 5,600 square foot free-standing building that was significantly renovated during 2012 to accommodate a Starbucks coffeehouse and a Verizon Wireless store. The Starbucks coffeehouse occupies approximately 2,165 square feet of the building under a 10 year, 5 month lease expiring in 2023 which includes three renewal options. The Verizon Wireless store occupies approximately 3,435 square feet of the building under a 10 year lease expiring in 2022 which includes three renew
