New Publix-Anchored Shopping Center Sale in Greenville South Carolina Brokered by Institutional Property Advisors
SIMPSONVILLE, S.C., April 15, 2021 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Market at Standing Springs, a 63,883-square-foot, new Publix-anchored shopping center in the Greenville metropolitan area of South Carolina. The sales price was $18.2 million.
“The Market at Standing Springs features a best-in-class tenant lineup, including Publix and Starbucks, and a location within the heart of one of Greenville’s fastest-growing and most attractive suburbs, Simpsonville,” said Zach Taylor, IPA senior director. “The buyer was a family office in a 1031 exchange. They were placing funds from a single-tenant Lowes Home Improvement asset that my partner, Don McMinn sold for them in March.” Taylor and McMinn represented the seller, Carolina Holdings and the buyer, C.F. Smith Property Group.
Completed in 2021, the center is located along Simpsonville’s rapidly growing West Georgia Road area at the intersection of W. Georgia Road and East Standing Springs Road near Interstate 385. Ben Yelm is Marcus & Millichap’s broker of record in South Carolina.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com