Time Equities purchases 39,078 s/f retail center for $1.3 million
New York-based Time Equities, Inc. (TEI) purchased 809 West Greenwood Street a 39,078 s/f retail center. This is TEI’s fourth retail center in South Carolina; the company purchased the property for $1.3 million.
The shopping center is conveniently situated just off of Highway 72 and is an important center servicing the local community. Abbeville is located approximately 80 miles west of Columbia, the capital of South Carolina. The property is a multi-tenant retail strip center anchored by Bi-Lo Supermarket.
Time Equities plans to make improvements to the parking lot, and pylon sign while leasing up the one remaining vacancy. The shopping center is currently 79% leased and has one available 8,500 s/f space. Time Equities will target local, regional and national retailers to secure the last tenant for the center.
“This is our fourth retail acquisition in South Carolina. We are familiar with this market and feel confident that we will be able to attract national and local retailers to this property to bring it to 100% occupancy,” said Ami Ziff, the director of National Retail for TEI. “We recognized an opportunity here and worked quickly to put the deal under contract.”
Time Equities, Inc. was represented in-house while the seller was represented by Tim Roller of NAI Earle Furman. The property will be managed locally by Dial, Dunlap & Edwards, LLC located in Columbia, SC.