Easley Shopping Center Sells For Nearly $8 Million
Jun 13, 2018 03:28PM
By Kathleen Maris
The Shopping Center Group, one of the largest privately-owned retail real estate advisory firms in the United States, along with Franklin Street, one of the fastest-growing full-service commercial real estate firms in the Southeast, announce the sale of The Shops at Easley Town Center in Easley, S.C. Under the leadership of The Shopping Center Group’s Neal Pringle, partner and director of investment sales and finance, the real estate firm represented seller Bond Street Advisors. Franklin Street represented buyer Mill Creek/Cooper, LLC, which acquired the property for $7.72 million.
“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,” explains Pringle. “Not only is the tenant line-up 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.” Adam Birnbrey, investment sales analyst at The Shopping Center Group, provided analytics in support of the marketing efforts.
The Shops at Easley Town Center includes two buildings totaling 21,300 square feet at Rolling Hills Circle at the entrance to Easley Town Center. The shopping center is leased with a tenant line-up of national names including AT&T, Jersey Mike’s Subs, Five Guys Burgers & Fries, Aspen Dental, Supercuts, GameStop, and Sprint. The property was built in 2011.
“Not only is the center fully occupied, but the overall retail core attracts consumers from an extensive regional trade area that includes Clemson University,” adds John Tennant, senior director, retail investment sales, Franklin Street. “The economic viability of this retail node, coupled by the strength of the tenant line-up, made this an attractive investment opportunity for Mill Creek/Cooper.” Tennant was joined by Bryan Belk, senior director of retail investment sales at Franklin Street, in representing the buyer.