North Charleston Community Shopping Center Sold


North Charleston Center, a 236,025-square-foot shopping center located at 5900 Rivers Ave. in Charleston has sold for $16.1 million. The property was 87 percent leased at the time of sale to Northern Tool + Equipment, Petco, Dollar Tree, dd’s Discount and Citi Trends. Popeye’s Chicken and McDonald’s are outparcel tenants. No capitalization rate was reported.

Mark Hillis and Whitney Knoll, of Newmark Grubb Knight Frank (NGKF),  represented the seller, DDR Corp., in the transaction. Atlanta-based Monarch Investments Group purchased the property. Cantor Commercial Real Estate, a sister company of NGKF, provided acquisition financing.

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