Matthews™ Completes Sale of 106,062-Square-Foot Shopping Center in South Carolina

Gateway Plaza Anchored by National Retailers and Adjacent to Top-Ranked Walmart

 

Sumter, SC — Matthews™, a commercial real estate investment services and technology firm, announced the successful sale of Gateway Plaza, a community shopping center located at 1314 –1342 Broad Street, Sumter, SC. Matthews™ Senior Vice Presidents Kyle Stonis and Pierce Mayson, and Associate Vice President Boris Shilkrot facilitated the transaction.

 

The property, spanning approximately 106,062 square feet, is situated in the heart of Sumter and is anchored by prominent national retailers, including T.J. Maxx, Ross, Ulta Beauty, and Five Below. Renovated in 2020, the center boasts modern facades and upgraded infrastructure, enhancing its overall appeal. Gateway Plaza is positioned directly across from No. 2 Walmart in the state, a location ranked among the top 4% nationally, providing the center with exceptional visibility and steady consumer traffic.

 

Gateway Plaza is more than 89% leased to national retailers, offering a stable and creditworthy tenant base. Surrounded by national outparcels and hotel brands, the center sits just five miles from Shaw Air Force Base, a significant economic driver with over 22,000 active-duty personnel and their families. With a five-and-a-half-year average anchor lease term and a projected annual growth rate of 2.58%, the asset strikes a balance between stability and long-term upside.

 

Core Peckville LLC acquired the property from WEG Sumter LLC, adding to its portfolio of stabilized retail centers.

 

“Gateway Square provided an excellent fit for the buyer, who recognized it as a best-in-market retail asset with sector-leading anchors and main and main positioning within the Sumter market,” Mayson said. “We continue to see strong demand for well-positioned community center assets with proven retailers, in the Southeast.”

 

For more information or to contact a Matthews™ specialized agent, please visit
www.matthews.com.

 

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.