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ROCKINGHAM, N.C. — IPA, a division of Marcus & Millichap, has brokered the $12.7 million sale of Richmond Plaza, a 202,504-square-foot retail center in Rockingham. Ross Dress for Less, Planet Fitness, Belk and Burkes Outlet anchor the property, which is located about 70 miles east of Charlotte. Other tenants include Dunkin’ and Hibbett Sports. Zach Taylor of IPA arranged the transaction on behalf of the seller, CF Smith Property Group, and secured the buyer, Florida-based Coastal Equities.
“This sale marks the culmination of a very successful repositioning by the sellers, who replaced JC Penney, Save-A-Lot and a movie theater with Burkes Outlet, Ross Dress for Less and Planet Fitness, respectively,” says Taylor.