Continental Realty Corp. Purchases Shopping Center in Metro Charleston for $17 Million

Mount Pleasant, S.C. — Continental Realty Corp. (CRC) has purchased Sweetgrass Corner, a 90,000-square-foot neighborhood shopping center in Mount Pleasant, roughly 9 miles outside Charleston. New Market Properties, a subsidiary of Preferred Apartment Communities Inc, sold the property for $17 million. The buyer purchased the property on behalf of Continental Realty Fund V L.P. and a co-investment vehicle related to Fund V, which are both managed by CRC. Built in 1999, Sweetgrass Corner features 13 tenants offering a mix of medical and personal care services, as well as sit-down and fast-casual restaurants. The site was formerly anchored by a BI-LO supermarket that was shuttered as part of a strategic decision by its parent company in 2019.