Key Takeaways
- • Continental Realty Corporation completed an off-market acquisition of a 14-property shopping center portfolio spanning seven states with more than 2 million square feet of retail space from US Properties Group.
- • The acquisition expands CRC's national shopping center footprint to over 10.5 million square feet across 16 states and increases assets under management to nearly $5 billion.
- • The portfolio is 93% leased with more than 230 tenants and is anchored by major national retailers including Kroger, Hobby Lobby, Ross Dress for Less, Five Below, Harbor Freight Tools, Academy Sports, Belk, and Bob's Discount Furniture across Georgia, Illinois, Tennessee, Ohio, North Carolina, South Carolina, and Virginia.
- • According to CoStar Group, this transaction ranks as the third largest portfolio acquisition of the year, reflecting strong demand for well-positioned retail assets in secondary markets with favorable demographics and below-market in-place rents.
- • The properties are located in markets with an average retail occupancy of 97%, positioning the portfolio for long-term value creation and consistent performance.
Summary
Continental Realty Corporation has completed a significant off-market acquisition of a 14-property retail portfolio comprising more than 2 million square feet of gross leasable area, acquired from US Properties Group. The transaction, announced May 6, 2026, marks a material expansion of CRC's national platform and underscores renewed institutional investor confidence in well-capitalized retail real estate positioned in secondary markets.
The acquisition meaningfully increases CRC's scale and geographic reach. Post-closing, the company's national shopping center portfolio now exceeds 10.5 million square feet, with assets under management reaching nearly $5 billion. The deal expands CRC's operational footprint to 16 states, supported by personnel distributed across the United States. CBRE's Chris Decoufle and Kevin Hurley represented the seller in the transaction.
The portfolio demonstrates strong operational metrics and tenant quality. The properties are 93% leased across more than 230 tenants located in Georgia, Illinois, Tennessee, Ohio, North Carolina, South Carolina, and Virginia. Anchor tenants include leading national retailers such as Kroger, Hobby Lobby, Ross Dress for Less, Five Below, Harbor Freight Tools, Academy Sports, Belk, and Bob's Discount Furniture. The centers benefit from favorable market conditions, with surrounding markets averaging 97% retail occupancy according to industry data. Below-market in-place rents and strong demographic profiles in high-traffic locations position the assets for continued performance and organic rental growth.
The transaction's scale and execution reflect CRC's standing in the current market. According to CoStar Group data, this acquisition ranks as the third largest portfolio transaction of 2026, signaling both the availability of institutional-quality retail assets and CRC's capability to close large, off-market transactions in competitive sourcing environments.
The acquisition meaningfully increases CRC's scale and geographic reach. Post-closing, the company's national shopping center portfolio now exceeds 10.5 million square feet, with assets under management reaching nearly $5 billion. The deal expands CRC's operational footprint to 16 states, supported by personnel distributed across the United States. CBRE's Chris Decoufle and Kevin Hurley represented the seller in the transaction.
The portfolio demonstrates strong operational metrics and tenant quality. The properties are 93% leased across more than 230 tenants located in Georgia, Illinois, Tennessee, Ohio, North Carolina, South Carolina, and Virginia. Anchor tenants include leading national retailers such as Kroger, Hobby Lobby, Ross Dress for Less, Five Below, Harbor Freight Tools, Academy Sports, Belk, and Bob's Discount Furniture. The centers benefit from favorable market conditions, with surrounding markets averaging 97% retail occupancy according to industry data. Below-market in-place rents and strong demographic profiles in high-traffic locations position the assets for continued performance and organic rental growth.
The transaction's scale and execution reflect CRC's standing in the current market. According to CoStar Group data, this acquisition ranks as the third largest portfolio transaction of 2026, signaling both the availability of institutional-quality retail assets and CRC's capability to close large, off-market transactions in competitive sourcing environments.
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