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Atlanta & Southeast  + Southeast  + Retail  |  September 11, 2019
David Cohen
By: David Cohen

Greensboro Shopping Center Trades for $15M

Virginia-based real estate investment trust Medalist Diversified REIT has acquired Ashley Plaza, a 160,356-square-foot regional shopping center in Greensboro for $15.2 million. The seller was undisclosed.

Ashley Plaza is currently 98% occupied by a tenant roster that includes Hobby Lobby, Planet Fitness, Ashley HomeStore, and Harbor Freight Tools, with several other regional and local tenants in the center.

“We believe this is an attractive shopping center located in the area’s main retail corridor,” said William Elliott, president of Medalist. “The property has a very strong rent roll and should be accretive to the REIT from day one of ownership.”

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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