September 11, 2019
Virginia-based real estate investment trust Medalist Diversified REIT has acquired Ashley Plaza, a 160,356-square-foot regional shopping center in Greensboro for $15.2 million. The seller was undisclosed.
Ashley Plaza is currently 98% occupied by a tenant roster that includes Hobby Lobby, Planet Fitness, Ashley HomeStore, and Harbor Freight Tools, with several other regional and local tenants in the center.
“We believe this is an attractive shopping center located in the area’s main retail corridor,” said William Elliott, president of Medalist. “The property has a very strong rent roll and should be accretive to the REIT from day one of ownership.”
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