BC Wood Properties, a Lexington-based commercial real estate company, has acquired Fayette Place Shopping Center, a 116,674-square-foot shopping center located along the Nicholasville Road retail corridor.
Current tenants of Fayette Place Shopping Center include Ross, Shoe Carnival, Dollar Tree, Half Price Books, and Party City, as well as several other national and locally owned businesses.
The company stated that the acquisition of Fayette Place is intended to enhance the growth of its BC Wood Real Estate Fund III, LP, its third private equity fund. The portfolio encompasses a variety of centers with strong national retail tenants as well as grocery-anchored properties.
“We are excited about acquiring another shopping center in Lexington,” said Brian Wood, founder and CEO of BC Wood Properties. “We are familiar with the community and confident we will be able to add value to Fayette Place. Our goal is to introduce businesses that help our community grow.”
BC Wood Properties will celebrate its 30th year of business this June. With the addition of Fayette Place, BC Wood Properties now owns and operates 11 shopping centers in the company’s home state of Kentucky and 22 throughout the Southeast, Midwest, and Mid-Atlantic regions.