UPDATED Aug. 28 8:30 p.m. Boca Raton-based PEBB Enterprises bought a South Carolina shopping center with an 11 percent occupancy rate for about $68 per square foot.
PEBB closed August 23 on its $4.2 million purchase of the High Point Centre shopping center in Irmo, South Carolina, in an off-market deal. The seller is C-III Capital Partners.
The 61,935-square-foot property had a Piggly Wiggly store as its anchor tenant before the grocer-store chain vacated its space at High Point Centre.
“Like most of our acquisitions, High Pointe Centre is a redevelopment opportunity,” Truett said by email, “where we can leverage our in house development expertise and retailer network.”
Correction: A previous version of this story said the deal represented Pebb’s 11th nationwide. It is the company’s 11th state nationwide.