Ziff Properties, Inc., based in Mount Pleasant, South Carolina, recently purchased Matthews Festival Shopping Center, a 127,817-square-foot retail center at the corner of East Independence Boulevard and Matthews Township Parkway in Matthews, North Carolina.
The transaction carried a $8.150 million price tag. Established tenants include Big Lots, Miracle Ear, Springleaf Financial, Merle Norman Cosmetics, Tequilerias and Tamarind Fine Cuisine of India.
Ziff Properties officials plan to renovate the center and discussions are underway with several prospective new tenants.
Ziff Properties was represented in the transaction by Bryan Wyker of The Providence Group.
"Our business revolves around neighborhoods and furthering the importance of each of our shopping centers to the community," said Christian Chamblee, Ziff's director of acquisitions and chief operating officer. “With its current occupancy levels and opportunities for enhancement, Matthews Festival is an ideal fit.”
Ziff Properties specializes in the development, acquisition and management of commercial properties in the Southeastern United States. For more information, visit www.zpi.net.
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