Ziff Properties acquires neighborhood center

Ziff Properties, Inc. today announced the acquisition of The Shops at Salem Fields, a 44,900-square-foot Food Lion-anchored retail center, located in Fredericksburg, VA. The property was purchased for $4.575 million. Eric Robison of Cushman & Wakefield Thalhimer represented Ziff Properties in the transaction.

In the coming months, it is expected that Food Lion’s grocery store will be converted to a Weis Markets. This change will give local residents a new shopping choice, stimulating activity at the center.

Ziff Properties’ Marketing & Operations Associate, Jordanna Arbogast says, “From a marketing and merchandising perspective, we are excited to work with new retailer, Weis Markets. Salem Fields has a consistently successful track record and this is a great opportunity for us to make new tenant relationships and continue that success.”

About Ziff Properties

Ziff Properties, Inc. specializes in the development, acquisition and management of commercial properties in the Southeastern United States. Based in Mount Pleasant, South Carolina, the Company’s 3,000,000-square feet portfolio includes shopping centers, office buildings, and self-storage facilities. Founded by Stephen Ziff in 1992 along with CEO Tim Walter, the company has purchased more than 6 million square feet of commercial property. With more than 500 commercial tenants, Ziff Properties’ portfolio contains locally owned and operated businesses as well as national tenants such as Food Lion, Staples, Starbucks and Hibbett Sports. For more information, please visit www.zpi.net.