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Continental Realty Corporation has sold West Ashley Shoppes, a power center in Charleston, South Carolina, for $22.57 million. The 136,000-square-foot retail property is located at 946 Orleans Road and was acquired by Ziff Real Estate Partners. The transaction concludes a 10-year hold period for Continental Realty Corporation.
During its ownership, Continental Realty Corporation focused on leasing and retention at West Ashley Shoppes. The firm executed 10 new leases totaling nearly 44,000 square feet and completed four tenant renewals covering approximately 21,000 square feet. These activities reflect an effort to maintain occupancy and stabilize income at the center over the decade-long investment horizon.
West Ashley Shoppes is situated within Charleston’s West Ashley retail corridor, directly across from Citadel Mall. The power center is anchored by Ross Dress for Less, World Market, and Dollar Tree, positioning the asset as a value- and necessity-oriented retail destination within the submarket.
On the sales side, Tom Kolarczyk of JLL represented Continental Realty Corporation and procured the buyer, Ziff Real Estate Partners. The role included advising the seller and sourcing the purchaser for the transaction, highlighting continued brokerage activity around stabilized retail assets in the Charleston area.
West Ashley Shoppes is part of a broader regional strategy for Continental Realty Corporation. Since entering the Charleston submarket in 2016, the company has expanded its retail footprint in the region to more than 600,000 square feet. That figure includes the acquisition of the 510,000-square-foot Mount Pleasant Towne Centre, as well as Sweetgrass Corner and The Shops at Towne Centre Way.
Beyond retail, Continental Realty Corporation also owns and manages four multifamily communities in the local area, totaling more than 900 units. This mix of retail and residential holdings underscores the firm’s multi-asset presence in and around Charleston, even as it recycles capital from assets such as West Ashley Shoppes.
The post Continental Realty Sells West Ashley Shoppes Retail Center in Charleston for $22.57M appeared first on CRE Market Beat.
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