Investment Properties Group sells West Ashley Shoppes in Charleston, S.C.

SRS Investment Properties Group was able to proficiently navigate short anchor lease terms, a hurricane, and the fact that the asset had been overexposed in the marketplace by a previous broker who was unable to perform, in successfully finding the right buyer for West Ashley Shoppes.

Deal Strengths

• Located in the burgeoning West Ashley neighborhood in Charleston, South Carolina
• Tenant roster comprised of 82% national tenants
• Credit anchor base accounts for 62.6% of the GLA and includes Ross, Bed Bath & Beyond, World Market and Party City

Deal Challenges

• Aggregate anchor lease term under 5 years
• Lack of tenants required to report sales
• Positioned across the street from Citadel Mall – an aging ‘B’-caliber enclosed mall

Overview