Troubled Pawleys Island Plaza Sold


The largest shopping center in the Pawleys Island business district is under new ownership. A redevelopment is proposed, but details have not been announced.

Sunbelt Ventures of Charleston acquired Pawleys Island Plaza last week. The center was scheduled to be sold on the courthouse steps next week, but the previous owners, Mickey and Beverly Stikas, transferred the property in a deed in lieu of foreclosure last week.

Sunbelt Ventures bought the mortgage to the plaza in March. The price was not disclosed, but the foreclosure action sought $5.3 million in principal, interest and fees.

“We just took title to it, so it’s happened really quickly,” said Dusty Wiederhold, a managing partner in Sunbelt Ventures. “We worked out a settlement with Mr. and Mrs. Stikas.”


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