GREENVILLE, SC – The Shopping Center Group, one of the largest, privately owned, retail real estate advisory firms in the United States with offices coast-to-coast, 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 the Greenville, S.C.-suburb of Easley. Under the leadership of The Shopping Center Group’s Neal Pringle, CCIM, partner, director of investment sales and finance; the real estate firm represented seller Bond Street Advisors in a transaction that closed May 22. Franklin Street represented Mill Creek/Cooper, LLC that acquired the property for $7.72 million. No additional terms are available.
“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, 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 that straddle Rolling Hills Circle at the entrance to Easley Town Center. The shopping center is 100% leased with a tenant line-up of national names including AT&T, Jersey Mike’s Subs, Five Guys Burgers & Fries, Aspen Dental, Supercuts, GameStop, Sprint and more. 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, retail investment sales, Franklin Street, in representing the buyer.
With a 7.4% population increase since 2010, the Greenville MSA is now home to nearly 885,000 consumers. A population of 22,500 with an average household income of more than $70,500 reside within three miles of the shopping center. More than 35,800 vehicles travel daily through the neighboring intersection of Prince Perry Road and Calhoun Memorial Highway/US Highway 123.
About The Shopping Center Group
Founded in 1984, The Shopping Center Group is recognized as the preferred, retail-only real estate services firm known for dependable service, proven integrity, indisputable commitment and unparalleled market knowledge. With 20 offices coast-to-coast, the firm maximizes outcomes on behalf of landlords, developers, investors, financial institutions, retailers, restaurants and entertainment facilities throughout the United States with our tenant and landlord services divisions. In 2017, The Shopping Center Group facilitated over 2,000 transactions totaling over $2 billion. Its third-party portfolio includes exclusive leasing assignments for over 800 retail centers totaling over 60 million square feet and management agreements for over 150 shopping centers totaling nearly 10 million square feet of retail property. The firm exclusively represents over 430 retailers, restaurants and entertainment venues. For more information, visit theshoppingcentergroup.com.
About Franklin Street
Celebrating more than 10 years in the business, Franklin Street is a family of full-service commercial real estate companies focused on delivering value-add solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise and experience of each of its divisions – Real Estate, Capital, 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.