Hope Ferry Center in Lexington sells for $7.1 million

Hope Ferry Center in Lexington has sold for more than $7 million.

Marcus & Millichap a commercial real estate brokerage firm, announced Oct. 23 the sale of the 51,749-square-foot, multi-tenant retail center. The property sold for $7,175,000.

“Hope Ferry Center is an attractive and meticulously maintained asset in the heart of Lexington,” Harrison Creason, senior director investments with Marcus & Millichap, said in a news release. “The property has excellent real estate fundamentals and is occupied by a strong mix of local and regional businesses. This transaction underscores the continued strength of well-located neighborhood retail. Our team was proud to represent the seller, and our marketing process generated multiple competitive offers from well-qualified buyers, culminating in an all-cash closing above the asking price.”

Creason, along with Andrew Margulies, senior managing director investments, represented the seller, a local family partnership.

Built in 2001, Hope Ferry Center is located at 5175 Sunset Blvd. on a 3.48-acre site at a signalized intersection along Sunset Boulevard, which sees more than 43,000 vehicles per day, according to the release. The center has maintained strong historical occupancy with tenants including McAlister’s Deli, Learning Express Toy Store, Snip-Its, Blush Boutique, Tulip Boutique, and Regional Finance, among other retail and service-based businesses. The property had been under single ownership since construction and sold to a privately owned company that owns and manages shopping centers throughout the Southeast.

The surrounding area is a premier retail corridor anchored by national brands such as Target, Publix, Walmart, Aldi, Lidl, Lowes Foods and Lowe’s Home Improvement, and benefits from proximity to major employers and residential developments, the release stated.

Marcus & Millichap specializes in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. The company closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion, the release stated.