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Atlanta & Southeast  + Carolinas  + Retail  | 
Continental Realty Corporation has acquired The Shops at Towne Centre Way in Mount Pleasant, SC, for $3.9 million.

CRC Adds to Charleston Property Collection with $4M Retail Center

Baltimore, MD-based Continental Realty Corporation has purchased The Shops at Towne Centre Way, a 7,054-square-foot retail center in the Charleston submarket of Mount Pleasant, SC, for $3.9 million.

CRC acquired the asset in an off-market transaction from Church Property, LLC, with Trey Lucy of Belk | Lucy representing both sides.

The Shops at Towne Centre Way was purchased on behalf of Continental Realty Fund V, L.P., a $210.8 million private equity fund that now owns six additional properties in the Charleston market including:

  • Sweetgrass Landing Apartments (acquired 2022, $56 million)
  • The Six Apartments (acquired 2022, $28 million)
  • Sweetgrass Corner (acquired 2022, $17 million)
  • Mount Pleasant Towne Center (acquired 2020, $147 million)
  • Central Island Square (acquired 2020, $92 million)
  • West Ashley Shoppes (acquired 2016, $17 million)

The 2001-constructed Shops at Towne Centre Way consists of four retail spaces that were 100% leased at sale.

“An extremely high barrier to entry for new retail projects (in Mount Pleasant) continues to exist, which increases the value and attractiveness of strong and strategically-located shopping centers such as The Shops at Towne Centre Way,” said Josh Dinstein, SVP, acquisitions for CRC.


Inside The Story

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition