BALTIMORE AND HILLARD, OHIO — Continental Realty Corp. has purchased a 14-property shopping center portfolio spread across seven states in the Southeast and Midwest. The Baltimore-based firm purchased the more than 2 million-square-foot portfolio from Hillard-based US Properties Group Inc. for an undisclosed price. Chris Decoufle and Kevin Hurley of CBRE represented the seller in the off-market transaction.
The acquisition grows Continental Realty’s holdings to nearly $5 billion in assets under management and expands its geographic footprint to 16 states, including its entry into Ohio. The portfolio was 93 percent leased at the time of sale to more than 230 tenants, including anchors such as Kroger and Academy Sports + Outdoors. The assets in the portfolio include:
- Bechtle Crossing in Springfield, Ohio (223,000 square feet)
- Cherry Hill Plaza in Galax, Va. (36,000 square feet)
- Collinsville Plaza in Collinsville, Ill. (29,000 square feet)
- Cross Creek Plaza in Beaufort, S.C. (245,000 square feet)
- Cypress Bay Plaza in Morehead City, N.C. (280,000 square feet)
- Delaware Community Plaza in Delaware, Ohio (148,000 square feet)
- Franklin Square in Spartanburg, S.C. (142,000 square feet)
- Marion Towne Center in Marion, S.C. (84,000 square feet)
- Mount Vernon Plaza in Mount Vernon, Ohio (52,000 square feet)
- Shoppes at Morrow Station in Morrow, Ga. (485,000 square feet)
- The Streets of Indian Lake in Hendersonville, Tenn. (300,000 square feet)
- Springfield Small Shops in Springfield, Ohio (12,000 square feet)
- Suwanee Crossroads Shopping Center in Suwanee, Ga. (72,000 square feet)
- Walterboro Plaza in Walterboro, S.C. (134,000 square feet)