Investment Properties Group sells Patton Square in Woodruff, S.C.

Working through a tedious loan assumption process, the SRS Investment Properties Group secured a dependable buyer with an appetite for small town grocery-anchored product and successfully executed the sale of Patton Square for the second time in four years.

Deal Strengths

• Grocery-anchored by BI-LO on a long-term lease (13 years remaining) with solid sales numbers
• 86.4% national anchor base and 90.8% overall national tenant roster
• Positioned along Woodruff’s main traffic corridor while serving as one of only two grocers in the community

Deal Challenges

• Existing assumable debt on the property
• Woodruff is a small, tertiary location outside of Greenville
• Junior anchor, Ace Hardware, on a short-term lease

Overview