(For more retail coverage, click GlobeSt.com/RETAIL.)
WHITEVILLE, NC-A corner retail property here has traded owners in an $11.58-million deal that puts it in the hands of a private investment group from Savannah, GA.
Columbus Corners, a 93,500-sf asset, was sold by Progressive Development Partners in a deal brokered by Miami-based Blackrock Retail Property Advisors. The center is at the corner of US Highway 71 and Slippery Log Road.
The property, located less than four miles from US Highway 74 in Columbus County, is anchored by Goody's and Moore department stores. A Wal-Mart Supercenter is also part of the Columbus Corners development, but is separately owned and not part of the transaction, according to Blackrock Retail. Nikolas Kozy, of Blackrock Retail, tells GlobeSt.com the property has approximately 5,000 sf of vacant space.
He adds that as developers, Progressive Development Partners had planned to sell Columbus Corners during the normal course of business. He declined to reveal the transaction's cap rate.
Kozy brokered the deal with Casey Rosen and Dennis Carson, both also of Blackrock Retail Property Advisors.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
