Northmarq Announces Sale of Washington Square Shopping Center Near Lexington, Kentucky

ShoppingCenter

Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of the Washington Square neighborhood center located at 1002 Lexington Road in Georgetown, Kentucky. The 122,554-square-foot shopping center is anchored by LifePoint Health and was fully leased at the time of sale. Ryan Roedersheimer of Northmarq represented the seller, a Lexington, Kentucky-based investor. A private buyer based in Austin, Texas acquired the asset for approximately $15.0 million.  

“Washington Square was a fun assignment. We were able to bring a repeat seller and buyer to the table and both were thrilled with the outcome. For the seller, we achieved the first part of his goal, and I am actively working on finding his exchange property,” said Roedersheimer, Director in Northmarq’s Cincinnati, Ohio office. “For the buyer, we successfully added another trophy asset to his portfolio. As is our goal, this was truly a winning outcome for all involved!”  

Located just 10 miles north of Lexington, the shopping center features 23 tenants across four buildings. Built in 1972, the property sits on 13.93 acres. The retail center benefits from a signalized intersection, monument signage and the highly trafficked U.S. Route 25.  

A checkbox that looks like a button used to make the rest of the form visible.
Let us know what emails you want to receive
Ryan Roedersheimer profile photo
View Profile
About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.