NEW YORK—New York-based Time Equities Inc. (TEI) has paid $1.3 million to acquire 809 West Greenwood Street, a 39,078-sq.-ft. retail center in Abbeville, S.C. making the property the company’s fourth in the state.
TEI was represented in-house in the transaction, while the seller was represented by Tim Roller of NAI Earle Furman. The property will be managed locally by Dial, Dunlap & Edwards LLC.
Currently 79 percent leased, the shopping center is anchored by a Bi-Lo Supermarket and is situated off of Highway 72.
The new ownership plans to make improvements to the property’s parking lot and will target local,and national retailers to fill the remaining space.
“This is our fourth retail acquisition in South Carolina. We are familiar with this market and feel confident that we will be able to attract national and local retailers to this property to bring it to 100 percent occupancy,” said Ami Ziff, the director of national retail for TEI. “We recognized an opportunity here and worked quickly to put theunder contract.”