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Continental Spins Off 95K-SF Mount Pleasant Retail Center
Continental Realty Corporation (CRC) completed the sale of Sweetgrass Corner and The Shops at Towne Centre Way in Mount Pleasant, South Carolina. The properties, located at 1903 and 1909 Highway 17 North, total 95,370 square feet and were 100 percent leased at the time of sale. CRC acquired the assets in 2022 as part of a broader strategy to enhance and strengthen the retail environment surrounding Mount Pleasant Towne Centre, the company’s adjacent 510,000-square-foot lifestyle center. CRC acquired Sweetgrass Corners for $17 million and The Shops at Towne Centre Way for $3.9 million.
At the time of acquisition, Sweetgrass Corner was a mostly vacant neighborhood shopping center, approximately 33 percent leased and included a 59,824-square-foot former BI-LO grocery store that had remained vacant for more than two years.
CRC transformed the property into a fully leased retail destination anchored by Trader Joe’s, HomeSense and Golf Galaxy.
- ◦Sale/Acquisition
