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Serota Properties Tenders $25M for Grocery-Anchored Retail Center in Bluffton
Serota Properties has acquired the Bluffton Shopping Center — a 118,440-square-foot, grocery-anchored asset in the Hilton Head Island submarket of Bluffton, SC — for $25.2 million.
Jim Hamilton, Brad Buchanan, Kolarczyk and Andrew Kahn of JLL represented the seller, Jaz Development, LLC, in the transaction.
The 2017-constructed Bluffton Shopping Center is 99% occupied. It is anchored by Aldi, the 6th largest grocery store chain in the world, as well as the PGA Tour Superstore and Hobby Lobby. Additional tenants include First Watch, Tropical Smoothie Café, Sleep Number, Aspen Dental, The Spirited Hand and Boutique Nails.
Bluffton Shopping Center is situated at 1121 Fording Island Road and benefits from the approximately 60,000 vehicles per day that pass along Fording Island Road, the only artery on and off Hilton Head Island. The center is home to the last grocer before entering the island. The property is also just 20 miles from the Port of Savannah.
- ◦Sale/Acquisition
