Franklin Street, one of the fastest-growing full-service commercial real estate firms in the Southeast, arranged the sale of Crossroads Market located in North Augusta, S.C., just northeast of the Georgia border. Franklin Street’s Bryan Belk, John Tennant and Todd Mitchell represented the seller, WRG-2019, LLC of Augusta, Ga., in the transaction. Augusta-based Henbell McDonough HFT, LLC acquired the property for $3.1 million.
“Real estate investors are demonstrating continued interest in shopping centers next to necessity-based retail operators like Publix,” says Belk, senior director of retail investment sales at Franklin Street’s Atlanta office. “Buyers are focused on properties such as Crossroads Market that feature a carefully curated tenant mix and are resistant to online retail competition.”
“Given this market condition we were able to generate seven offers in the first two weeks of marketing the asset,” said Mitchell, senior associate at Franklin Street.
Crossroads Market is situated at 404 East Martintown Road about four miles northeast of downtown Augusta. The newly renovated property is shadow-anchored by a Publix and totals 22,263 square feet. Built in 1984, the shopping center features a mix of national, regional and local service and retail tenants including Tires Plus, Great Clips, Republic Finance and Sunrise Grill.
About Franklin Street: Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management – Franklin Street offers unmatched value and optimal solutions for clients nationwide. Learn more about Franklin Street at FranklinSt.com.