A Fort Mill-area grocery store shopping center has a new owner after an almost $8 million sale, but customers needn’t start looking for other options.
“We like the shopping center,” said Tom James, vice president with the new Greensboro, N.C.-based owner, T. Copper James & Associates. “We keep the tenants when we purchase a property like this one. It’s a successful center in a nice area. We’re very, very pleased to have made this acquisition.”
His company bought Regent Towne Center for $7.95 million. The nearly 53,000-square-foot center is home to Food Lion, Regal Cleaners, Upscale Nail & Salon, Palmetto Pharmacy, Lee Café, Fantastic Sam’s and Brothers Auto Tech.
Regent Towne Center isn’t far from the state line, about halfway between Carowinds and downtown Fort Mill.
Commercial real estate services group HFF represented the seller, Cole Credit Property Trust. Tom Kolarczyk, HFF director, sees considerable potential for a center surrounded by 16 residential communities in Regent Park and close to 36,000 residents withing a three-mile radius.
“This is an excellent opportunity to acquire a high-performing, Food Lion-anchored shopping center with limited grocer competition in a rapidly growing sub-market,” Kolarczyk said. “Regent Towne Center will continue to thrive as Fort Mill strengthens and diversifies its employment and population base.”
The new owner has been in business since 1980. The company owns properties throughout the Carolinas. Charlotte-based Primax Properties will manage the property.