A Matthews shopping center has been acquired by a South Carolina-based firm that plans to renovate the center.
Ziff Properties said Wednesday that it paid $8.15 million for the Matthews Festival Shopping Center at Independence Boulevard and Matthews Township Parkway. Tenants include Big Lots, Merle Norman Cosmetics, Tequilerias and Tamarind Fine Cuisine of India.
Ziff Properties, based in Mount Pleasant, S.C., plans to renovate the 127,817-square-foot center and is in discussions with several new tenants, the company said in a news release.
“Our business revolves around neighborhoods and furthering the importance of each of our shopping centers to the community. With its current occupancy levels and opportunities for enhancement, Matthews Festival is an ideal fit,” Christian Chamblee, Ziff’s chief operating officer, said in a statement.
Bryan Wyker of The Providence Group represented Ziff Properties in the acquisition, and will work with Alex Kelly of Tribek Properties to reposition the shopping center.