Newmark Completes Sale of 167,341 SF Shopping Center Midtowne Park in Anderson, South Carolina

November 27, 2023 11:00 AM

Newmark announces the firm has arranged the sale of Midtowne Park, a 167,341-square-foot, four-tenant power center in Anderson, South Carolina. Newmark Senior Managing Director Mark Joines represented the seller in the transaction.

“Together with the center’s premier national tenant lineup and strong fundamentals, Midtowne Park is a core asset within a dominant and growing Southeastern market–making it a highly attractive acquisition opportunity the buyer,” said Joines. “With the closing of this transaction, we congratulate all parties on this favorable outcome and look forward to witnessing continued successes at the site.”

Anchored by HomeGoods, Kohl’s, ULTA and Dick’s Sporting Goods, Midtowne Park boasts national tenants accounting for 100% of the gross income and occupied space. Each tenant is on a dedicated tax parcel, creating unique exit strategies for future ownership groups. Additionally, the center is proximate to other prominent retailers, including Walmart, Sam’s Club, PetSmart, Michael’s, Publix, Academy Sports, TJ Maxx, Office Depot, Home Depot, Ross, Hobby Lobby, Old Navy and Burlington.

As part of the Greenville-Spartanburg-Anderson MSA, Anderson is located just south of Interstate 85 on the east side of Lake Hartwell–only 15 minutes from Clemson University and its 30,000 students, faculty and staff. Strategically positioned along Clemson Boulevard, Midtowne Plaza boasts ideal fundamentals: large pylon signage, +31,000 traffic count and a dedicated, signalized intersection shared with Chick-fil-A, Target and Lowe’s Home Improvement.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of September 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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