A 37,985-sf Food Lion grocery store anchors the 85%-leased center. Other tenants include Domino's Pizza, Pro Nail Care and Great Clips. Inland holds an 18-month master lease covering the vacancies.
In a prepared statement, Jason Lazarus, Inland's acquisitions associate, says, "There's explosive growth all around this center, including a 250-home community currently under construction, a $35-million retirement community also under way, and another 1,000-home community in the planning stages."
He says "the entire Carolina market is booming, and with residential growth comes new retail."
Lazarus negotiated the transaction for Inland from the REIT's Charleston, SC office with outside counsel Charles Benvenuto. Rob Carter of the Carolina office of Berkley Capital Advisors represented Chip Mark of MarkPiercePoole in the sale.
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