Continental Realty Corporation has finalized the sale of West Ashley Shoppes, a grocery-anchored retail center in Charleston, South Carolina, on behalf of Continental Realty Fund IV, LP. The property, totaling 136,000 square feet, traded for $22.57 million. The buyer is Ziff Real Estate Partners, a private real estate investment firm. The center is located at 946 Orleans Road in Charleston, within the West Ashley retail corridor.
Continental Realty held the asset for approximately a decade before exiting its investment. Over that 10-year period, the firm pursued a focused leasing and asset management plan aimed at strengthening the center’s income profile. That initiative included 10 new leases totaling nearly 44,000 square feet, bringing in additional tenants to bolster occupancy and diversify the rent roll.
In addition to new leasing, Continental Realty completed four tenant renewals covering approximately 21,000 square feet. These renewals helped to maintain in-place cash flow and extend term on existing tenancy, supporting stability at the center during the hold period. The company describes its approach as a proactive asset management strategy that added substantial value to the property prior to disposition.
West Ashley Shoppes is positioned across from Citadel Mall, a well-known retail destination in Charleston’s West Ashley area. The center is anchored by national retailers Ross Dress for Less, World Market, and Dollar Tree. Dollar Tree recently opened in a repositioned anchor box at the property, reflecting ongoing merchandising and space reconfiguration efforts. Beyond its anchor lineup, the center contains a mix of retail and service-oriented tenants, contributing to a diversified tenant base.
JLL oversaw the investment sale process. Tom Kolarczyk of JLL represented Continental Realty Corporation in the transaction and also sourced the buyer, Ziff Real Estate Partners. The closing marks the disposition of a stabilized, multi-tenant retail asset that had undergone extensive leasing and asset management work during Continental Realty’s ownership.
