St. Francis Marketplace, a strip shopping center on Woodruff Road in Columbus, has been purchased by a South Carolina company.
Mount Pleasant, S.C.-based Ziff Properties Inc. said it paid $6.6 million for the 63,608-square-foot property at 4518 Woodruff Road, near St. Francis Hospital. Tra Dykes handled the sale for Columbus-based Woodruff Co., Ziff said.
The shopping center was built in 1969, Ziff said, and was last renovated about five years ago, according to a listing on real-estate website LoopNet. It sits on 5.6 acres.
The new owner said it plans to spend some money on “capital-intensive deferred maintenance.” That includes making improvements to the parking lot and the roof.
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St. Francis Marketplace has 16 tenants, the most notable being Planet Fitness, Kool Smiles, Starbucks and The Yogurt Shoppe. Others include Steak Out, Columbus Vascular Columbus, Uptown Pharmacy, Mr. Wing Sports Grill & Bar, Champions 4 Life, Nail Luv, Peluso’s Restaurant, Jimmy John’s Subs, Budget Cuts, Rent A Center, Gulf States Insurance and The Mail Room.
Christian Chamblee, Ziff’s chief operating officer and director of acquisitions, in a statement, called the Columbus shopping center “an exciting addition to our consistently expanding portfolio. Ziff Properties is thrilled to become an intricate part of the St. Francis medical community and surrounding neighborhoods.”
Located at the intersection of Woodruff Road and Manchester Expressway, Ziff Properties said roughly 42,000 vehicles pass the center each day. The company said nearly 62,000 residents live within three miles of St. Francis Marketplace, with an average annual household income of $49,363.
Ziff Properties, founded in 1992, focuses on real estate the the Southeast. The company said it has 34 properties under its belt, including retail centers, light industrial properties, office buildings and self-storage businesses.
The sale of St. Francis Marketplace follows the recent $4.95 million purchase of Fountain Park Shopping Center on Macon Road by Pikesville, Md.-based America’s Realty. That firm bought the 107,105-square-foot property from Phillips Edison and Company.