Ziff Properties Buys Shopping Centers in Georgia and North Carolina

Dallas, Ga. and Charlotte, N.C. – Terraces at University Place in Charlotte and Shoppes at Seven Hills in Dallas sold for $7.8 million and $2.9 million, respectively.

Ziff Properties Inc. has acquired Terraces at University Place in Charlotte and Shoppes at Seven Hills in Dallas for $7.8 million and $2.9 million, respectively. Terraces at University Place is a 64,960-square-foot retail property located across from the UNC Charlotte campus. Newmark Grubb Knight Frank Capital Markets represented the seller, LBUBS 2006-C1 Tryon Retail LLC. Major tenants of the 71 percent-occupied center include Wing Zone, Smoothie King and Kut Masters. Brian Wyker of The Providence Group represented Ziff Properties. Shoppes at Seven Hills is a 17,903-square-foot CVS Pharmacy-anchored retail property. Craig Taylor of CBRE Inc. represented Ziff Properties in the purchase. The fully leased center is also tenanted by Primary Care Plus and Owner’s Box.

   — Scott Reid

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