Lancaster Shopping Center Sold


Ziff Properties has purchased the 180,194-square-foot Lancer Shopping Center for $4.4 million. The property is located at 1256 Highway 9 Bypass West in Lancaster. Ziff Properties has plans to spend approximately $450,000 on capital improvements within the first 18 months of ownership. Lancer Center is approximately 80 percent occupied by anchor tenants Bi-Lo, Big Lots, Citi Trends and Badcock Furniture. Other tenants include Its Fashion and Hibbett Sporting Goods.

Ziff Properties was self-represented by Christian Chamblee. Paul Holder of Avtex Commercial Properties also represented Ziff Properties in the transaction. Steve Shields and Mike Burkard of CB Richard Ellis represented the seller, Safeway Group.

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