The Hampshire Companies Sells Retail Mall in Anderson, South Carolina
Anderson, S.C. (February 18, 2014) – The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, announce the sale of a 43,149-square-foot retail mall located at 3521-3523 Clemson Boulevard in Anderson, South Carolina. The property consists of two adjoining single tenant structures and was sold to Agree Realty Corporation.
The retail property is situated across four acres of land and is fully leased to PetSmart, the largest specialty pet retailer of services and solutions for the lifetime needs of pets, and Michael’s Stores, Inc., North America’s largest specialty retailer of arts, crafts, framing, floral, wall decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. The buildings are a part of the larger North Hill Commons center, a 333,149-square foot community center, anchored by major retailers such as Target, Lowe’s Home Improvement and Ashley Furniture. Located in the heart of Anderson’s primary retail corridor, the property is convenient to Interstate 85.
“The property’s reputable, long-standing tenants in a prime retail location coupled with a stabilized cash flow and steady annual returns were a strong fit for the buyer’s long term strategy,” said Igor Derbaremdiker, a Senior Investment Manager for The Hampshire Companies. “The Hampshire Companies was able to capitalize on the opportunity to sell the asset due to the long-term, remaining leases in place, allowing us to achieve our return objectives.”
Dan Kukes, associate broker of Landmark Commercial, represented The Hampshire Companies in the transaction.
About the Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on the Hampshire Companies is available online at www.hampshireco.com.