SRS’ Southeast Investment Sales team arranged the purchase of two BI-LO-anchored neighborhood shopping centers for Wheeler Real Estate Investment Trust, Inc. Wheeler acquired Tri-County Plaza located in Royston, Georgia and Sangaree Plaza located in Summerville, South Carolina as a portfolio. Tri-County Plaza consist of 67,577 square feet on 12.60 acres of land. The center is located at 1065 Franklin Springs St. at the intersection of Franklin Springs Street and Dawkins Road. Additional tenants include Maxway, Shoe Show and Snap Fitness. Sangaree Plaza consist of 66,948 square feet on 6.13 acres of land. The center is located at 1625 North Main St. at the intersection of North Main Street and Sangaree Parkway. Additional tenants include H&R Block and Check Into Cash. At both locations, BI-LO recently executed lease extensions as part of planned interior renovations. The portfolio sold for $11,025,000.00 on November 10, 2016.
Kyle Stonis, senior vice president and market leader, and Pierce Mayson, senior vice president, in the SRS Atlanta office represented the Wheeler in the 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.