Continental Realty Acquires 14-Property U.S. Shopping Center Portfolio
By Emily Davis May 6, 2026 4:14 pm
reprints
Betting big on retail in secondary markets, Continental Realty has acquired 14 shopping centers across the Southeast and the Midwest.
Continental Realty’s acquisition from U.S. Properties Group spans seven states and encompasses more than 2 million square feet of retail. CBRE’s Chris Decouflé and Kevin Hurley represented U.S. Properties in the deal. The off-market transaction was announced this week, and came with a purchase price of about $200 million, Green Street reported.
“Rising cost of living is driving more migration into secondary markets, increasing demand for necessity-based retail in these areas,” Josh Dinstein, Continental Realty’s co-chief investment officer, said in a statement. “These trends are creating opportunities beyond primary metropolitan statistical areas where affordability and population growth will support long-term demand.”
The collection of shopping centers is more than 93 percent leased and hosts more than 230 tenants across Georgia, Illinois, Tennessee, Ohio, North Carolina, South Carolina and Virginia, according to Continental Realty. Retail occupancy in these secondary markets averages 97 percent.
The acquisition expands Continental’s national shopping center portfolio to over 10.5 million square feet and ups its assets under management to just under $5 billion. Anchor tenants across the shopping centers include major retailers like Kroger, Hobby Lobby, Ross Dress for Less and Five Below.
“Transactions of this scale are a direct reflection of the strength of our team to smoothly transact, which has led to us being one of the buyers of choice in today’s market,” JM Schapiro, CEO of Continental Realty, said in a statement.
The 300,000-square-foot Streets of Indian Lake in Nashville, Tenn., was the largest shopping center in the transaction. Four Ohio-based shopping centers totaling 435,000 square feet mark Continental Realty’s first foray into the state.
“The transaction aligns perfectly with our overall investment strategy to invest in dominant centers featuring stable and internet-resistant tenant rosters, in areas with high barriers to entry and strong value-add potential,” Schapiro said.
Emily Davis can be reached at edavis@commercialobserver.com.
