SUMTER, SCA: A significant piece of commercial real estate in Sumter has changed ownership, demonstrating the retail real estate market’s ongoing strength in South Carolina.
Gateway Plaza, a 106,062-square-foot shopping center situated at 1342 Broad Street, little over 40 miles east of Columbia, was successfully sold, according to a statement released this week by Matthews Real Estate Investment Services.
Gateway Plaza Attracts Big-Name Tenants
At the time of selling, Gateway Plaza, which was constructed in 1998 and refurbished in 2020, was almost entirely leased. The mall has well-known national tenants, such as:
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T.J. Maxx
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Ross Dress for Less
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Ulta Beauty
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Five Below
The robust tenant mix is indicative of the Sumter area’s ongoing retail expansion, where anchor brands continue to be a major source of foot traffic and stability for investors and landlords.
Deal Details: Buyer and Seller Named
Boris Shilkrotof Matthews Real Estate Investment Services, Pierce Mayson, and Kyle Stonis helped to make the deal happen. An organization doing business as WEG Sumter LLC sold the shopping mall to a buyer going by the name Core Peckville LLC.
Although the deal’s financial details were not made public, the transaction’s success shows that investors have faith in Southeast suburban retail centers.
Sumter s Growing Commercial Footprint
Commercial growth is still being drawn to Sumter as regional and national retailers grow their businesses in the Carolinas. Gateway Plaza, which underwent renovations only five years ago, is still a popular shopping destination and a safe investment for investors seeking steady profits in busy shopping areas.
The retail center’s Broad Street location puts it in the middle of Sumter’s shopping district, which guarantees its tenants long-term success.
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