Hogan Real Estate Acquires Central KY Shopping Center

The 106,000-square-foot shopping center, home to a number of tenants including Dollar Tree, Liquor Barn and Olive Garden, sold for $13.3 million.

Starlite Shopping Center
Starlite Shopping Center

Hogan Real Estate has acquired the Starlite Shopping Center in Elizabethtown, Ky. The seller, Sun Life Assurance Co. of Canada, sold the property for $13.3 million, according to Hardin County records. Hogan financed its acquisition with an $11.4 million, nine-year mortgage held by WesBanco Bank. The previous owner had purchased the property in 2006 for $10.8 million, according to public records.

Located at 1705 N. Dixie Highway, the 106,000-square-foot shopping center sits on 11 acres of land in the heart of the city’s retail district. Directly off U.S. Highway 31W and within five miles of Interstate 65, the property is accessibly located both within Elizabethtown and the wider area.

Major tenants at the Starlite Shopping Center include Liquor Barn, Dollar Tree, Olive Garden and Furniture Liquidators. Multiple shops and restaurants are in the immediate area, including Lowe’s, Walmart, Kroger, Panera Bread and McDonald’s, along with the indoor Towne Mall shopping center across the highway. The new owner will be taking over leasing and management operations for the property.

Late last year, a community shopping center in Madison, Wis., sold for more than $3 million.

Image courtesy of Hogan Real Estate