Pelham Court is a neighborhood strip retail center located in Greenville, SC along a strong retail corridor. Carolina Capital Real Estate Partners (CCRP) purchased the property in December 2018.
CCRP’s investment objective was to acquire a well positioned neighborhood center on a highly trafficked thoroughfare with diverse and established tenants. The center was acquired at an attractive cap rate and below replacement costs. Furthermore, CCRP believes additional value can be created through capital investment and lease-up of the vacant space.
CCRP plans to hold the asset as part of their inline retail and stabilized income portfolio.