Managing Editor The 13 Harps Food Stores locations sold to Essential Properties, subject to long-term net leases with Harps, will continue to operate under such Harps-operated banners as Harps Food Stores and 10Box.
Harps Food Stores Inc. has wrapped up a sale-leaseback deal involving 13 grocery stores for $30.1 million, according to a published account.
All of the locations are in Arkansas and Missouri and account for a collective 459,525 square feet, the Northwest Arkansas Business Journal reported. The sites were sold to Princeton, New Jersey-based Essential Properties, subject to new, long-term net leases with Harps and will continue to operate under such Harps-operated banners as Harps Food Stores and 10Box. The sale won’t have an impact on store operations.