Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Braves Village Shopping Center, a 60,914-square-foot, Food Lion-anchored retail center in Myrtle Beach, South Carolina. The asset sold for $7.4 million.
“Demand remains exceptionally high for quality grocer-anchored centers,” said Lori Schneider, executive managing director, investments. “The buyer was in a 1031 exchange, but the property also generated strong interest from investors who typically acquire assets similar to Braves Village.”
Schneider, along with David Gant, senior director, investments, exclusively marketed the property on behalf of the seller and procured the buyer, Brentwood Realty, in association with Benjamin Yelm, Marcus & Millichap’s broker of record in South Carolina.
This shopping mall is located in Socastee near the swing bridge.
Exploring the Success of Braves Village
Braves Village is a stabilized property anchored by Food Lion, which has occupied the center since it opened in 1985. Located at 5401–5421 and 5711 Dick Pond Road, the center is in Socastee, an inland suburb within the Myrtle Beach metro area. The property includes 10 tenants, including Rent-A-Center, Metro by T-Mobile and Any Lab Test Now.
