RCG Ventures Sells 97,000-SF Shopping Center in Montgomery

Originally Published: CoStar

RCG Ventures, a privately funded real estate investment group, sold a 97,189-square-foot shopping center in Montgomery, AL to Delray Beach, FL-based PDQ Properties Corp. Twin Oaks sold for $10.5 million, or approximately $108 per square foot.

The single-story, Class B building at 2715-2787 Eastern Blvd. was built in 1983 and renovated in 2004. Twin Oaks is anchored by Dollar General and T.J. Maxx. Additional tenants include Party City, Hibbett Sports and Jackson Hewitt Tax Services.

RCG Ventures has acquired more than 160 properties in 28 states, representing total invested capital of more than $1.25 billion, since its inception in 2003, according to its website.

Kyle Stonis and Pierce Mason of SRS Real Estate Partners represented the seller.

Moore Company Realty has been tapped to handle leasing at the 97 percent occupied center.

Please refer to CoStar COMPS #4149741 for additional information on this transaction.