Kroger purchases Charleston's Ashton Place shopping center
Kroger Co. has purchased the 7.91 acre Charleston shopping center known as Ashton Place.
Kroger made the announcement official in a Feb. 7 news release. Ashton Place is located at 1100 Fledderjohn Rd., off Corridor G. The 76,947-square-foot Kroger grocery store anchors the shopping center, which also includes a hair salon and Mexican restaurant. The purchase price was not disclosed.
The Ashton Place shopping center was built in 1989 and is 100 percent occupied. The buyer was Kroger Limited Partnership of Cincinnati, Ohio, and represented itself. The seller was a private investor, based in Tennessee.
"Kroger was willing to pay the shopping center owner an aggressive price due to the fact this was a strong performing store within the Kroger chain," said Hanley Investment Group's Senior Vice President Kevin T. Fryman. "Kroger plans to expand and renovate the store, which the company had determined was undersized given their strong sales volume."
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