RCG Ventures has sold Ashley Plaza, a 160,356-square-foot super regional retail center in the central North Carolina community of Goldsboro.
The sales price was $15.2 million. The new owner is Medalist Diversified REIT, a Virginia-based real estate investment trust that specializes in acquiring, owning and managing value-add commercial real estate in the mid-Atlantic and Southeast regions.
“Ashley Plaza is a great example of retail reinvented in today’s evolving retail landscape,” said Thomas Kolarczyk, JLL director, who represented the seller. “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.”
Ashley Plaza is 98 percent 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 Blvd., Ashley Plaza is positioned in the main retail corridor in Goldsboro, which is about 54 miles east of Raleigh. Its 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.
RCG Ventures is a privately funded real estate investment group that acquires and develops commercial real estate in the continental United States. The company’s primary focus is value-add anchored shopping centers with the potential for long-term ownership.
