LEXINGTON, Ky. – Mist Lake Plaza, a 217,292 s.f. retail shopping center located at Richmond Road and Man O’War Boulevard in Lexington, has been sold for $17.4 million and will be the future home of Lexington Motorsports. The shopping center formerly was home to the first Walmart to open in Lexington.
Stone Commercial Real Estate represented the seller, DF Lexington Properties, in the transaction. Jim Powell of The Gibson Co., represented S&P Holdings, the purchaser of the property.
“The deal represents a win-win-win scenario,” said Justin Ryder, one of the selling brokers of the property. “The seller and the purchaser both won, but ultimately it’s the city of Lexington and especially the Richmond Road retail corridor that will benefit from a new anchor tenant.”
This property is located in the Southeast Retail Corridor of Lexington near Man O’ War Boulevard, Saint Joseph East Hospital and Hamburg Pavilion. The Lexington Fayette Urban County Government council approved the lifting of a deed restriction that would ultimately allow Lexington Motorsports to operate on the site.
Lexington Motorsports is one of the largest motorcycle dealers in Kentucky. It currently has more than 50,000 s.f. of new and used motorcycles, ATVs and other sports vehices plus parts and accessories.
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