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Charleston, S.C. —A partnership between Baltimore-based Alex. Brown Realty Inc. and Charlotte-based investment firm Lat Purser Associations Inc. has acquired Ashley Oaks Plaza, a 58,720-square-foot retail center, with plans for redevelopment.
The property was developed in 1985 as a neighborhood shopping center, and is located less than six miles from downtown Charleston in the Ashley River Road retail corridor.
The center is poised for extensive redevelopment and eventual rebranding by the joint venture. ABR Chesapeake Fund V, a value-add real estate fund sponsored by Alex. Brown Realty, has invested $4 million in the joint venture.