JULY 1, 2021 | THE PALOMAR GROUP
The Palomar Group arranged the $5.4 million sale of Myrtle Ridge, a grocery-anchored shopping center located near Myrtle Beach. Palomar represented the undisclosed seller, a private shopping center owner, in the off-market transaction. Both the undisclosed buyer and seller are private companies that primarily own grocery-anchored shopping centers throughout the Southeast. The 59,240 SF Myrtle Ridge is anchored by Food Lion, Dollar Tree, and Walgreens. Food Lion recently executed an early renewal at this location, taking its term to just under 10 years. The shopping center was 96 percent leased at the time of sale.