CHARLOTTE, NC – Ziff Properties, Inc. today announced the disposition of Terraces at University Place, a 65,112-square-foot shopping center, located in Charlotte, NC, across from the University of North Carolina Charlotte campus. The property sold for $12,200,000 to LBX Investments of Los Angeles. Tom Kolarczyk of HFF represented Ziff Properties in the transaction. The center was 97% occupied as of the time of sale, with a nice mix of tenants servicing the University.
Ziff Properties’ Director of Acquisitions and Chief Operating Officer, Christian Chamblee says, “We are very pleased with this latest transaction. Our team did a great job of executing the business plan. We would love to further invest in Charlotte if given the right opportunity.”