ATLANTA (May 18, 2017) – SRS Real Estate Partners’ Investment Properties Group exclusively marketed and brokered the sale of Cedar Springs Shopping Center in Spartanburg, S.C. The center is located at 254 Cedar Springs Road, which is situated on the southwest corner of the intersection of Cedar Springs Road and Southport Road. Cedar Springs consists of 133,370 square feet and is anchored by Big Lots and Family Dollar. The seller, Ziff Properties, Inc., sold the property via Ten-X for $1,548,750 on April 30, 2017 to an individual out of California, retaining an institutional-grade self-storage facility and three outparcels.
“Cedar Springs Shopping Center is a highly opportunistic asset with a major value-add component,” said Rob Whitmire, senior vice president, of SRS’ Investment Properties Group. “Given the fact that deals with these sort of upside metrics are so few and far between, we continue to see a significant appetite for them from the investment community.”
Rob Whitmire, senior vice president, Kyle Stonis, managing principal, and Pierce Mayson, principal, of SRS’ Investment Properties Group out of their Atlanta office represented the seller in the transaction. The buyer did not have representation in this transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.