ATLANTA, GA – HFF announced today that it has closed the sale of Westridge Square S.C. (top left photo), a 215,000-square-foot grocery-anchored shopping center in Greensboro, North Carolina, and Oak Hollow Square (top right photo), a 139,000-square-foot retail center in High Point, North Carolina.
HFF marketed the properties on behalf of the seller, CBL & Associates Properties, Inc., in two separate transactions.
Kimco Realty Corp., a real estate investment trust that owns and manages the largest portfolio of shopping centers in North America, purchased Westridge Square unencumbered for $26.1 million.
Oak Hollow Square was purchased by Fairway Investments for $14.3 million free and clear of existing debt.
Westridge Square is located five miles northwest of downtown Greensboro at the intersection of Battleground Avenue and Westridge Road.
The center is 98 percent leased and is anchored by Kohl’s, Harris Teeter and Rite Aid. Notable outparcels include McDonald’s, Bank of America, BB&T, and Wells Fargo.
Located at 1589 Skeet Club Road, Oak Hollow Square is close to State Route 68 about 10 miles west of Greensboro. The grocery-anchored property is 97 percent occupied by tenants including Harris Teeter and Stein Mart.
The HFF investment sales team representing the seller was led by managing directors Richard Reid (lower left photo), Coleman Benedict and Jim Hamilton.
Contacts:
RICHARD M. REID COLEMAN J. BENEDICT
HFF Managing Director HFF Managing Director
(404) 942-2209 (617) 338-0990
JIM R. HAMILTON
HFF Managing Director
(404) 942-2212
jhamilton@hfflp.comKRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
krmurphy@hfflp.com
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