RCG Ventures Buys Ashley Plaza in North Carolina for $15.2M

JLL announces $15.2M sale of Ashley Plaza in North Carolina
Ashley Plaza

September 12, 2019 – JLL announced today that it has closed the $15.2 million sale of Ashley Plaza, a 160,356-square-foot super regional retail center in the central North Carolina community of Goldsboro.

JLL marketed the property on behalf of the seller, RCG Ventures LLC. Medalist Diversified REIT Inc. purchased the asset.

Ashley Plaza is 98% occupied and anchored by Hobby Lobby, Planet Fitness, Ashley HomeStore and Harbor Freight Tools. The center is also home to several other regional and local tenants, including Shoe Show, Chuck E. Cheese and Smart Repair Center, and was renovated last year to modernize the look and feel of the asset. Situated on 15.49 acres at 201 North Berkeley Boulevard, Ashley Plaza is positioned in the main retail corridor in Goldsboro, which is about 54 miles east of Raleigh. It’s location at the corner of North Berkeley Boulevard and East Ash Street exposes the center to more than 34,000 vehicles per day, and the center has regional and limited retail competition within a 30-minute drive. Ashley Plaza is adjacent to Seymour Johnson Air Force Base, which is home to approximately 12,000 active-duty military members, their families and other supporting personnel.

The JLL Retail Capital Markets team representing the seller was led by Director Thomas Kolarczyk and Senior Managing Director Jim Hamilton.

“Ashley Plaza is a great example of retail reinvented in today’s evolving retail landscape,” Kolarczyk said. “RCG Ventures did a tremendous job repositioning this center with in-demand retailers on long-term leases. Medalist Diversified REIT Inc. will benefit from stable cash flow and adds an excellent asset to their growing portfolio.”