20,193 square foot Class A Strip Center sold for $8.6 million
ATLANTA, Georgia — Today, Franklin Street announced that its Investment Sales team has facilitated the sale of Suber Commons located in Greer, South Carolina for $8.6 million on behalf of Bond Street REIT to Crow Holdings. Suber Commons is a two building Class A strip center that includes tenants such as IHOP, Five Guys, Batteries Plus, Heartland Dental and America’s Best.
“A couple days into the New Year, this was our first closing of the year in the strip retail space, but it was the most active category of retail investments for us in 2024 and we expect that trend to continue in 2025 with the flood of institutional capital to the space,” Bryan Belk, managing director, retail investment sales for Franklin Street, said. “This deal in particular, because of its national tenant lineup and smaller easily re-tenanted unit sizes, attracted a lot of attention from private individual investors and larger funds alike.”
John Tennant, also managing director, retail investment sales for Franklin Street, pointed to an ongoing trend of institutional capital chasing smaller strip retail shopping centers because of their appeal to tenants as a driving force behind the successful sale.
“The lack of new construction in the strip retail space, due to the inflated cost of construction, has made existing centers more desirable for tenants,” Tennant said. “Because the tenant demand is there, the investor demand follows for these types of shopping centers.”
Suber Commons has a full occupancy rate and is located at 1488-1494 W. Wade Hampton Boulevard, a main retail corridor with national anchors including Target, Hobby Lobby, Kohls, Home Depot, Lowes, Food Lion, all located within a mile of the site. The road leads directly to downtown Greenville, which has been one of the fastest growing cities in the Southeast.
About Franklin Street:
Franklin Street is a fully integrated, national commercial real estate services firm headquartered in Tampa, Florida. We combine thoughtful planning with decisive action to deliver winning results to clients nationwide. Franklin Street’s seven lines of business include Capital Advisory, Insurance, Investment Sales, Property Management, Project Management and Tenant and Landlord Representation. Founded in 2006, Franklin Street has a network of industry-leading brokers and capital partners across the country to ensure exceptional client service.
