Cushman & Wakefield arranges $10.8M sale of Westwood Plaza
July 18, 2023
Cushman & Wakefield announced the commercial real estate services firm has arranged the sale of Westwood Plaza, a 83,354-square-foot community shopping center located in Greenwood, South Carolina. The final sale price was $10.8 million, equating to $130 per square foot.
Margaret Jones and Lane Breedlove of Cushman & Wakefield’s Retail Investment Advisors group represented the seller in the transaction. The property was acquired by Prudent Growth Partners.
“As a highly sought-after property by investors, Westwood Plaza demonstrates the strength of fundamentally sound retail in today’s everchanging environment,” said Margaret Jones, Senior Director at Cushman & Wakefield.
“Westwood offers a compelling combination of a durable tenant roster with value-add opportunities through leasing and below market rents,” added Lane Breedlove, Director at Cushman & Wakefield.
Westwood Plaza is situated at 512 Bypass 72 NW and is anchored by Planet Fitness, Dollar Tree, a newly opened Popshelf, and shadow anchored by Walmart. The retail property has excellent tenant retention with five of its twelve current tenants having occupied space at Westwood Plaza for more than 20 years. Westwood Plaza has also experienced robust leasing momentum with the recent addition of Popshelf and Bath & Body Works, plus a recent Dollar Tree lease extension.
