Cove Capital Investments announced the acquisition of a grocery-anchored retail shopping center in Princeton, Kentucky, expanding its portfolio of debt-free real estate investments. The property, located at 500 US Highway 62, encompasses approximately 72,013 square feet and is fully leased to a roster of nationally recognized tenants.
The acquisition was completed through the Cove Princeton KY Opportunity 117 Delaware Statutory Trust (DST), a Regulation D, Rule 506(c) offering targeting a $5.31 million equity raise for accredited 1031 exchange investors. The transaction aligns with Cove Capital’s strategy of acquiring necessity-based retail assets with strong tenant commitments, long-term occupancy prospects, and strategic market positioning.
The shopping center is anchored by major national retailers including Marshalls, Tractor Supply, and Ruler Foods, a subsidiary of Kroger. The tenant mix provides a combination of grocery, agricultural, apparel, and value-focused retail services that cater to residents across the region. According to the company, the center is fully occupied by national credit tenants, with several tenants recently renewing or extending their leases, underscoring their commitment to the location.
Located along US Highway 62, Princeton’s primary retail corridor, the property benefits from strong visibility, accessibility, and customer traffic generated by local residents and shoppers from surrounding communities. Cove Capital noted that the grocery-anchored nature of the asset helps drive recurring visits and supports complementary retailers through co-tenancy synergies.
Consistent with the company’s investment approach, the acquisition was completed as an all-cash, debt-free DST investment. Cove Capital said this structure eliminates lender foreclosure risk associated with leveraged DST investments and supports its focus on risk-mitigated real estate ownership strategies. The company also noted that a cost segregation report is available for qualified investors seeking potential tax-efficiency benefits.
The acquisition adds to Cove Capital’s growing national portfolio, which includes more than 3.7 million square feet of real estate across 129 properties. The company says it has worked with more than 2,600 investors and continues to focus on professionally managed commercial real estate opportunities for 1031 exchange and direct investment participants.
