Baltimore-based Continental Realty Corporation, on behalf of Continental Realty Fund IV, LP, has completed the $22.57 million sale of West Ashley Shoppes, a 136,000-square-foot retail center located at 946 Orleans Road in Charleston, South Carolina, to Ziff Real Estate Partners.
During its 10-year hold period, CRC executed a disciplined leasing strategy, including 10 new leases totaling nearly 44,000 square feet and completed four tenant renewals covering approximately 21,000 square feet, while implementing a proactive asset management strategy that added substantial value to the asset. Tom Kolarczyk of JLL represented CRC and procured the buyer in this sales transaction.
Located within Charleston’s West Ashley retail corridor across from Citadel Mall, The Shoppes at West Ashley is anchored by Ross Dress for Less, World Market, and Dollar Tree, which recently opened in the repositioned anchor space, and contains a mix of retail and service-oriented tenants.
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