Church Hill, TN Rafinia Property Group (RPG) has facilitated the sale of the Central Plaza Retail Center for $1.7 million. Central Plaza Retail Center is a 43,700 s/f retail strip center with anchor tenants Food Lion and Dollar General, along with a mix of local and regional tenants. The single-story strip center is currently configured to fit six tenant suites, accounting for 43,700 s/f.
The property sits on 6.09 acres with frontage along South Central Ave. to the east and US-11 West to the south. The property was constructed in 1998, with a brick and painted concrete masonry exterior, as well as 236 parking spaces. RPG principal Evan Rafinia specializes in investment sales and retail leasing throughout the country and will handle leasing for the center.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,