Tuesday, April 15, 2025
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FCPT Purchases 20 Bloomin’ Brands Restaurant Properties for $66.4 Million 

by Hayden Spiess

Mill Valley, Calif. — Four Corners Property Trust (FCPT) has purchased 20 restaurant properties occupied by Bloomin’ Brands concepts for $66.4 million dollars. Located in Arizona, Florida, Georgia, Kentucky, Louisiana, North Carolina, Nevada, Pennsylvania, South Carolina and Tennessee, the portfolio includes 10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, with one dual-tenant property occupied by both concepts. The properties are leased to corporate Bloomin’ Brands entities on two master leases. This transaction makes Bloomin’ Brands the third largest tenant for FCPT, accounting for 3.3 percent of cash rent for …

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Company newsDevelopmentNewsNorth CarolinaRestaurantsSouth Carolina

Eggs Up Grill Signs Seven-Unit Franchise Agreement in North Carolina, South Carolina

by Hayden Spiess

Charlotte, N.C. and Travelers Rest, S.C. — Eggs Up Grill — a breakfast, brunch and lunch chain — has signed a new, seven-unit development agreement in North and South Carolina. Franchisee Conley McIntyre, who has a portfolio of existing Eggs Up outposts, will develop, own and operate the restaurants. Six of the locations will be in the Charlotte, North Carolina market, with an additional location in Travelers Rest, South Carolina. There are more than 100 Eggs Up Grill restaurants planned or currently underway.  

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DevelopmentNewsSouth Carolina

SJC Ventures Completes Phase II of West Ashley Station Shopping Center in Charleston

by Hayden Spiess

Charleston, S.C. —SJC Ventures, with general contractor Hill Construction, has completed the development of Phase II of West Ashley Station, a shopping center located in Charleston’s West Ashley neighborhood. Totaling 29,000 square feet, the second phase is fully leased to tenants including Hollywood Feed, Hand & Stone, Another Broken Egg, Pacific Dental, GoodVets, Jersey Mike’s Subs, Nothing Bundt Cakes, CAVA, Nikita Hair Salon, House of Sage and Serotonin Centers. All tenants are scheduled to be open by February 2025. John Orr and Lindsey Halter of Carolina Retail Experts marketed West Ashley …

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DevelopmentGrocery-anchoredMixed-useNewsSouth Carolina

Lexington Land Development Breaks Ground on $65 Million Mixed-Use Project Near Columbia, South Carolina

by Hayden Spiess

Lexington, S.C. — Lexington Land Development Co. has broken ground on Platt Springs Crossing, a $65 million mixed-use project in the Columbia suburb of Lexington. Upon completion, the 57-acre project will comprise a Lowes Foods grocery store, 10,000 square feet of inline retail space, 13 retail outparcels and 142 residential townhouses. Tenants at the development will include Chipotle Mexican Grill (which began construction earlier this summer), Panda Express, Whataburger, Harbor Freight Tools, Heartland Dental, WellStreet Urgent Care, Big Blue Marble Academy, Planet Fitness and Tidal Wave Car Wash. A construction timeline …

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DevelopmentNewsSouth Carolina

North America Sekisui House Breaks Ground on 35,000-Square-Foot Retail, Restaurant Development in Metro Charleston

by Hayden Spiess

Summerville, S.C. — An affiliate of North America Sekisui House (NASH) has broken ground on Marketplace at Nexton, a new retail and restaurant project at the company’s Nexton master-planned community in the Charleston suburb of Summerville. Upon completion, the development will total 35,000 square feet of retail and restaurant space across six one-story buildings ranging from 3,500 to 10,000 square feet in size. Tenants at Marketplace at Nexton will include Dunkin’, sweetFrog, El Patron, Rotolo’s Craft and Crust Pizza, Dance Moves of Charleston, Shimmer and a liquor store. SL Shaw & …

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LeasingNewsSouth Carolina

Three New Tenants Open at Beaufort Station in South Carolina

by Hayden Spiess

Beaufort, S.C. — Three new tenants have opened at Beaufort Station, a shopping center in Beaufort. Hobby Lobby, Five Below and Rack Room Shoes have opened stores at the property, which is anchored by T.J. Maxx and HomeGoods. Additionally, Ross Dress for Less, PetSmart, Ulta Beauty, Old Navy, ALDI, Mattress Firm, Surcheros, Panda Express, Americas Best and Chicken Salad Chick have signed leases at the center. The Morgan Cos. is the landlord. 

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Investment salesNewsSouth Carolina

Reedy River Retail Brokers $15 Million Sale of 431,306-Square-Foot Westgate Mall in Spartanburg, South Carolina

by Hayden Spiess

Spartanburg, S.C. — Reedy River Retail at SVN Blackstream has brokered the sale of Westgate Mall, a 431,306-square-foot retail property located in Spartanburg. Namdar Realty acquired the mall for roughly $15 million. Belk, Dillard’s, JCPenney and Costco anchor the property, which is situated on 52 acres. Dustin Tenney and Daniel Holloway of Reedy River Retail arranged the transaction. 

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Investment salesNewsSouth Carolina

Marcus & Millichap Brokers $18.8 Million Sale of The Shoppes at Montague Corners in North Charleston, South Carolina

by Hayden Spiess

North Charleston, S.C. — Marcus & Millichap has brokered the $18.8 million sale of The Shoppes at Montague Corners, a retail center located in North Charleston. Planet Fitness anchors the property, which totals 106,518 square feet. The 23-tenant center was 94.6 percent occupied at the time of sale. Other tenants at the property include Dollar General, Harbor Freight Tools and Save-A-Lot. The center has undergone renovations and tenant improvements totaling $4 million within the past two years. Allyssa Paragano and Ani Paulson of Marcus & Millichap represented the seller and procured …

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Tanger Outlets Deer Park in New York
ArizonaFloridaLeasingMarylandNew YorkNewsSouth Carolina

Sephora to Open at Five Tanger Shopping Centers This Year

by Hayden Spiess

Greensboro, N.C. — Tanger has announced an expansion of its partnership with Sephora, which will bring the beauty retailer to five additional Tanger properties this year. Averaging 5,000 square feet, the stores will be located in Charleston, South Carolina; Deer Park, New York; National Harbor, Maryland; Palm Beach, Florida; and Glendale, Arizona. Sephora is currently open at Bridge Street Town Centre in Huntsville, Alabama, which Tanger acquired in late 2023. 

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LeasingNewsSouth Carolina

Trader Joe’s to Open 14,000-Square-Foot Store at Sweetgrass Corner in Metro Charleston

by Hayden Spiess

Mount Pleasant, S.C. — Trader Joe’s has signed a lease to open a new store at Sweetgrass Corner, a 90,000-square-foot shopping center located in Mount Pleasant, roughly five miles outside downtown Charleston. The grocer will occupy 14,000 square feet at the property, which is owned by Continental Realty Corp. (CRC). Trader Joes, which operates more than 570 stores throughout the country, will be situated within a portion of the space left vacant by the closure of BI-LO in 2019. The new lease brings the center’s occupancy to 82 percent. CRC acquired …

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