For Immediate Release
Friday, October 2, 2020
Avison Young completes $2.4 million acquisition of retail center in Greer, SC
Sale demonstrates strength of real estate assets in Greenville area
Greenville, SC – Gary Lyons, Avison Young Principal, today announced the completed $2.4 million acquisition of a newly constructed, three tenant strip center at 870 E. Suber Road in Greer, South Carolina. The fully leased retail center, completed in June 2020, is located on the corner of E. Suber Road and Hammett Bridge Road on the Lowe’s Foods outparcel.
Avison Young’s Gary Lyons, and Rhett Craig, Senior Vice President out of the firm’s Greenville office, represented the buyer, VLH Hiawatha, LLC. VLH Hiawatha, LLC was in need of a replacement asset for Phase 2 of a 1031 exchange. The asset at 870 E. Suber was chosen due to its location, tenant mix and long-term potential.
"Our client had very specific investment criteria and this property fit the bill perfectly,” said Lyons. “The strength of the Greer market and the co-tenancy with Lowe's Foods made it an excellent choice".
The property is 6,500 square feet and Class A construction, featuring stone and brick exterior. It is occupied by Orange Theory, Greenfield’s Bagels and Stevenson Tax & Accounting.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
For more information:
• Jessica Putallaz, Marketing Coordinator: +1.864.334.4145