Business

Shopping center in Bluffton sold for $22 million

submited photo

Lowcountry Village, which houses box stores such as Pier 1 Imports, Big Lots and Michael’s, was recently sold to an undisclosed California buyer for $22 million, according to Matthews Real Estate Investment Services.

The Bluffton shopping center has 14 tenants, including Ross Dress for Less and Cost Plus World Market. It was built in 2001 and sits between Tanger I and Tanger II.

Matthews Real Estate Investment Services arranged the sale of the 140,000-square-foot center for seller Real Properties of America Inc., a release states.

Scott Henard, Matthews SVP and regional director of shopping centers, said Thursday that the property was attractive to the buyer because retailers in the center are doing well, and there is very little vacancy in Bluffton region.

The site is 100 percent occupied and is completely developed, Henard said.

The major box stores in the center all have near-term expiration of three and a half years or less, the release states.

Teresa Moss: 843-706-8152, @TeresaIPBG

  Comments