Ziff Properties, Inc. recently announced that it has closed on the sale of multiple properties in South Carolina, including Lanier Plaza, Lancer Center, and The Village at Myrtle Grove.
The company’s ongoing portfolio features southeastern retail properties. These particular properties sold for a total of $24 million. A private buyer from New York bought the assets. Executives at Cushman & Wakefield’s retail investment sales group, based in Atlanta, joined the brokerage team in the offmarket transaction.
“This successful portfolio sale presents an opportunity for Ziff Properties to re-invest in new and challenging acquisitions and continue our retail market growth,” Christian Chamblee, COO and director of acquisitions, said.
Ziff Properties is focused on acquiring, developing, and managing commercial properties located in the Southeastern U.S. The company is established in Mount Pleasant, South Carolina. This is where the company maintains its 3 million-square feet portfolio of office buildings, shopping centers, and self-storage facilities.
In 1992, Stephen Ziff (the founder) and Tim Walter (the CEO) launched the company. Altogether, the company has bought over 6 million square feet of commercial property. Its current portfolio features over 500 commercial tenants, including locally owned and operated businesses, and national tenants (Starbucks, Staples, Food Lion and Hibbett Sports).