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Lancer Center
Investment salesNewsSouth Carolina

JLL Arranges $9.9 Million Sale of Lancer Center in Suburban Charlotte

by Julia Sanders

Lancaster, S.C. — JLL Capital Markets has arranged the $9.9 million sale of Lancer Center, a 178,626-square-foot super regional shopping center anchored by KJ’s Market in the Charlotte-area community of Lancaster. Tom Kolarczyk of JLL represented the undisclosed seller in the transaction. John Gavigan of JLL represented the new owner, Medalist Diversified REIT Inc., in securing a $6.6 million, five-year, fixed-rate acquisition loan through Cooperative Business Services. Lancer Center was constructed in 1983 and most recently renovated in 2013. The 97 percent-leased center is home to Big Lots!, Harbor Freight …

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Myrtle Ridge
Investment salesNewsSouth Carolina

Palomar Group Arranges $5.4 Million Sale of Grocery-Anchored Shopping Center in Conway, South Carolina

by Julia Sanders

Conway, S.C. — The Palomar Group has arranged the $5.4 million sale of Myrtle Ridge, a grocery-anchored shopping center located at 1901 Highway 544 in Conway, a town near Myrtle Beach. Palomar Group represented the undisclosed seller, a private shopping center owner, in the off-market transaction. Both the undisclosed buyer and seller are private companies that primarily own grocery-anchored shopping centers throughout the Southeast. The 59,240-square-foot Myrtle Ridge is anchored by Food Lion, Dollar Tree and Walgreens. Food Lion recently executed an early renewal at this location, taking its term …

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GeorgiaInvestment salesNew YorkNewsSouth Carolina

Valuerock Realty Acquires Three Net Lease Properties for $5.9 Million

by Julia Sanders

Irvine, Calif. — ValueRock Realty has acquired a property leased to CVS/pharmacy in Greenville, South Carolina, and two Chipotle Mexican Grill restaurants in Carrollton, Georgia, and Syracuse, New York for $5.9 million. The CVS/pharmacy property in Greenville was acquired for $2.06 million from an undisclosed New York-based individual. The tenant has 10 years remaining on its absolute, triple-net ground lease. The property leased to Chipotle Mexican Grill in Carrollton was acquired for $2.3 million from an undisclosed Georgia-based developer. The property triple-net-leased to Chipotle Mexican Grill in Syracuse was acquired …

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Publix
Investment salesNewsSouth Carolina

IPA Arranges $18.2 Million Sale of Publix-Anchored Market at Standing Springs in Upstate South Carolina

by Julia Sanders

Simpsonville, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $18.2 million sale of Market at Standing Springs, a 63,883-square-foot, Publix-anchored shopping center in Simpsonville. Zach Taylor of IPA’s Taylor-McMinn Retail Group represented the seller, Carolina Holdings, and the buyer, C.F. Smith Property Group. The buyer is a family office completing a 1031 exchange, according to Taylor. Completed in 2021, Market at Standing Springs is located at the intersection of West Georgia and East Standing Springs roads near Interstate 385. The tenant roster includes …

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Majestic Square
LeasingNewsSouth Carolina

Target Signs 30,000-Square-Foot Lease at Majestic Square in Downtown Charleston

by Julia Sanders

Charleston, S.C. — Target has signed a 30,000-square-foot retail lease at Majestic Square, a mixed-use retail and office building located at 211 King St. in downtown Charleston. Dotan Zuckerman of Zuckerman Co., alongside Beach Commercial represented the landlord, an affiliate of The Beach Co. Rich Barta of CORE Properties represented Target Corp. An opening date will be announced closer to the store’s opening.

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North Charleston Navy Yard
DevelopmentNewsSouth Carolina

Jamestown, Private Developers Partner to Redevelop North Charleston Navy Yard

by Julia Sanders

North Charleston, S.C. — Jamestown, an Atlanta-based developer and owner of adaptive mixed-use developments around the world, has partnered with Southeast real estate developers William Cogswell and Jay Weaver to redevelop the 45-acre North Charleston Navy Yard. Decommissioned in 1996 but still home to dozens of companies, the waterfront campus will be reimagined into a 1.2 million-square-foot mixed-use neighborhood called Navy Yard Charleston. The project will add new office space, residences, shopping and dining to the nearby Park Circle neighborhood, as well as new green spaces, a concert hall and …

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Gregorie Ferry
Investment salesNewsSouth Carolina

SRS Brokers $7.4 Million Sale of Shops at Gregorie Ferry Landing in Suburban Charleston

by Julia Sanders

Mount Pleasant, S.C. — SRS Real Estate Partners’ National Net Lease Group has brokered the $7.4 million sale of The Shops at Gregorie Landing, a shopping center located at 2966 Hwy 17 N in the Charleston suburb of Mount Pleasant. Parker Walter, Matthew Mousavi and Patrick Luther of SRS represented the buyer, a private investor from the Northeast, in the 1031 exchange transaction. Benjy Cooke of Oswald Cooke & Associates represented the seller, an unnamed South Carolina-based developer. Completed in 2020, the 11,125-square-foot property is fully occupied by Panera Bread, …

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The Mill
DevelopmentNewsSouth Carolina

Sembler, Hawthorne Residential to Develop 46-Acre Mixed-Use Project in Myrtle Beach

by Julia Sanders

Myrtle Beach, S.C. — The Sembler Co. has announced plans to develop The Mill, a 46-acre mixed-use project in Myrtle Beach’s Carolina Forest community. The new development will include retail, office and multifamily space. Sembler is partnering with Hawthorne Residential Partners on the multifamily portion of the project. Sembler and Hawthorne expect to begin construction this summer. The Mill will include Marketplace at The Mill, a 66,680-square-foot neighborhood shopping center that features a freestanding, 46,800-square-foot Publix, as well as a six-acre parcel ideal for a medical or traditional office, hotel, …

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Chapin Crossing
FinanceInvestment salesNewsSouth Carolina

Aztec Group Secures $10.8 Million Acquisition Financing for Shopping Center in Chapin, South Carolina

by Julia Sanders

Chapin, S.C. — Aztec Group Inc. has secured $10.8 million in debt and equity for the acquisition of Chapin Crossing, a 72,714-square-foot, Publix-anchored shopping center in Chapin. Jason Shapiro, Sean Harrington and Joel Zusman of Aztec Group arranged the financing on behalf of the buyer, a partnership led by affiliates of Miami-based CF Properties Corp. A Missouri-based life insurance company provided the 10-year loan, which features a fixed interest rate under 3 percent. Located at 1235 Chapin Road, Chapin Crossing was built in 2017 and is situated at the southwest …

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DevelopmentNewsRetailersSouth Carolina

DD’s Discounts to Open 22,000 SF Store in Columbia, South Carolina on Oct. 24

by Alex Tostado

Columbia, S.C. — DD’s Discounts will open a 22,000-square-foot store within Fashion Place Shopping Center in Columbia Friday, Oct. 24. The property will be located at 2720 Decker Blvd., 10 miles northeast of downtown Columbia and the University of South Carolina. This will be dd’s Discounts third location in South Carolina and 270th overall in 20 states. Jake Dugan of JBL Asset Management represented the undisclosed landlord in the lease negotiations.

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