Aug
13

Summerville Plaza Shopping Center Sold

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Ferncroft Capital has purchased The Summerville Plaza Shopping Center, a 121,000-square-foot property in Summerville, for $13.35 million. Atrium Buildings Inc., the general contractor, is renovating the property in order to bring in Harris Teeter as the center’s anchor. Piggly Wiggly formerly anchored the shopping center, but its lease expired in June. It is situated on a 13.42 acre site.  The architecture, lighting and landscaping will also be upgraded. The new owners will also change the name to Sawmill Village because of its proximity to the Sawmill Branch Canal that is located behind the property. Construction is scheduled for a fall 2014 completion.  Ferncroft Capital has retained The Bell Moore Group to continue to lease and manage the property. Ted Barnes with Argus Development Group will oversee the construction of the center.

Rob CarterAlex Quarrier, and David Webb of Berkeley Capital Advisors arranged the transaction.

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    Categories : Charleston, Summerville

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