Greenville area shopping center sells for nearly $8 million

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The Shops at Easley Town Center sold for $7.72 million on May 22. The seller, Charleston-based Bond Street Advisors, was represented by The Shopping Center Group in the transaction with Georgia-based buyer Mill Creek/Cooper LLC represented by Franklin Street.

Built in 2011, the shopping center at 125 and 128 Rolling Hills Circle, Easley, includes two buildings with 21,300 square feet fully leased with tenants including AT&T, Jersey Mike’s Subs, Five Guys Burgers & Fries, Aspen Dental, Supercuts, GameStop, and Sprint.

“This retail asset is at the core of an established retail node anchored by the 650,000-square-foot Easley Town Center — only 10 miles southwest of Greenville,” said The Shopping Center Group’s Neal Pringle, partner and director of sales and finance. “Not only is the tenant lineup a powerhouse of national shop tenants, but the unanchored strip is shadow-anchored by Walmart, Sam’s Club, Kohl’s, and other strong retail names that are thriving and expanding at this time.”

The Greenville metropolitan statistical area experienced a 7.4 percent population increase over the past eight years and is home to nearly 885,000 consumers. The population of 22,500 having an average household income of more than $70,500 living within three miles of the Easley shopping center and heavy traffic through the neighboring intersection of Prince Perry Road and Calhoun Memorial Highway/U.S. Highway 123 also attracted the buyer in the transaction.

“Not only is the center fully occupied, but the overall retail core attracts consumers from an extensive regional trade area that includes Clemson University,” said John Tennant, senior director, retail investment sales, Franklin Street. “The economic viability of this retail node, coupled by the strength of the tenant lineup, made this an attractive investment opportunity for Mill Creek/Cooper.”

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