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Shoppes at Centre Pointe Sold at $118/SF

Monarch Investments, a value-add retail buyer out of Atlanta, made their second purchase in the CHS region with the acquisition of Shoppes at Centre Pointe, a 140,000 SF center anchored by Ashely Furniture and Staples, located across from Tanger Outlets in N CHS.  Monarch paid a reported $16.5M or about $118/SF in December to special servicer CWCapital that had foreclosed on the center in early 2014.  Monarch bought North Charleston Center a couple of years ago, paying DDR some $68/SF for that asset about two years ago.  No article.