October 8, 2019 | Jessica Caron
October 8, 2019 | THE PALOMAR GROUP
Having closed deals from the shorelines of Myrtle Beach, to the upstate of Greenville and the sandy beaches of Charleston, The Palomar Group continues to expand its grocery anchored sales inventory throughout the state of South Carolina. The Palomar Group has closed transactions with centers anchored by all the major grocery players in South Carolina including Publix, Fresh Market, BI-LO, Walmart, Food Lion, and Save-a-Lot. They continue to expand their presence in the Palmetto state with their recent offerings, two new grocery anchored centers in the Greenville MSA and the Low Country.
St. Matthews Shopping Center is a 20,015 SF multi-tenant shopping center located on Hwy 601, the most heavily traveled road in St. Matthews. The Piggly Wiggly anchored center is the only grocery store in Calhoun County that offers fresh produce and a full deli section. At 87% occupancy, there is upside through lease up. There is stability among the existing tenants with Piggly Wiggly having 9 years of term remaining and recent renewals by World Finance and Security Finance.
Western Square is an 86,764 SF BiLo anchored shopping center in the Greenville, SC MSA. The BiLo lease is guaranteed by Ahold Delhaize, Credit rating Baa1. BiLo has anchored the center for over 27 years and has a 2.54% health ratio. The center has an e-commerce resistant tenant mix with a mix of service oriented, restaurants, and medical tenants currently occupying space. With 18% vacancy, Western Square offers significant upside through lease up.