Avison Young completes $1.8 million acquisition of AT&T property in Anderson, SC20 Sep 2021
Sale demonstrates continued demand for real estate assets in the Upstate
Greenville, SC – Chris Fraser, Avison Young Principal and Managing Director, today announced the completed $1.8 million purchase of the AT&T Cellular occupied retail property at 3518 Clemson Boulevard in Anderson, South Carolina. The 3,500 sf building, constructed in 2008, is located in Midtowne Park Center on the outparcel of Kohl’s and Dick’s Sporting Goods.
Avison Young’s James McKay, Rakan Draz and John Odom, Senior Associates out of the firm’s Greenville office, represented the buyer, Arlington Property Ventures. Arlington Property Ventures was in need of a replacement asset for Phase 2 of a 1031 exchange. The asset at 3518 Clemson Boulevard was chosen due to its location and long-term potential. The team was able to negotiate a lower than asking sale price.
"Our client was on a deadline and had very specific investment criteria,” said McKay. “The strength of the Upstate investment market, strong credit tenant and location on the Kohl’s outparcel made it an excellent choice".
The property is 3,500 square feet and Class A construction, featuring stucco and brick exterior. Neighboring tenants include Homegoods, Ulta, Kohl’s and Dick’s Sporting Goods.