South Carolina

Greenville, S.C. — Institutional Property Advisors, a division of Marcus & Millichap, has brokered the $10.7 million sale of Cherrydale Market, a newly built, 70,635-square-foot shopping center in Greenville. The property houses three tenants: Burlington, Ulta Beauty and Five Below. Zach Taylor of IPA arranged the transaction on behalf of the seller, an entity doing business as Cherrydale 245 LLC. The buyer was Agree Realty, a net lease retail REIT based in Bloomfield Hills, Michigan. “We procured the equity for the developer to get the property out of the ground …

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 …

Indian Land, S.C. — JLL Capital Markets has arranged the sale of Promenade at Carolina Reserve, a 255,868-square-foot shopping center in Indian Land, about 25 miles from Charlotte. Jim Hamilton, Brad Buchanan, Tom Kolarczyk, Ryan Eklund and Andrew Kahn of JLL represented the seller, Hutton. Bandera Ventures acquired the property. Completed in 2018, Promenade at Carolina Reserve was fully leased at the time of sale to tenants including T.J. Maxx, Burlington, Ross Dress for Less, HomeGoods, Ulta Beauty, Hobby Lobby and Petco. Additionally, the center includes five single-tenant outparcel pads …

Greenville, S.C. — Owings Mills, Md.-based Greenberg Gibbons has acquired Town N’ Country, a 263,490-square-foot shopping center in Greenville, for $23 million. The property was purchased through the Greenberg Gibbons Real Estate Income Fund, which was launched in March 2021 to acquire shopping centers throughout the East Coast, Southeast and Midwest markets. The seller was not disclosed. Town N’ Country was 98 percent leased at the time of sale to tenants including Belk, Hobby Lobby, HomeGoods, Ross Dress for Less, Staples, Ulta Beauty and Five Below.

Charleston, S.C. — Stiles has sold Point Hope Commons, a 75,000-square foot neighborhood shopping center in Charleston, for $29 million. Publix anchors the center, which was developed by Stiles in 2019. The property was 92 percent leased at the time of sale to tenants including Roper St. Francis Healthcare, Heartland Dental and Cainhoy Veterinary Hospital.