According to a listing by Colliers, Parkland Plaza in Cayce is For Sale

Parkland Plaza Investment Offering – Value-Add Opportunity

Parkland Plaza, located in Cayce, South Carolina, is one of the first shopping centers established in the greater Columbia area. It began as a grocery anchored neighborhood center in the mid-1950s, providing convenient and modern shopping for residents of Columbia, Cayce and West Columbia.

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Today, Parkland Plaza has transformed into a thriving community center featuring approximately 175,000 square feet of retail space on ±17.33 acres. It is anchored by a recently remodeled Food Lion, along with Planet Fitness, Ace Hardware, Five Below, Oak Street Health along with various other shops and restaurants.

Situated in the heart of the vibrant Columbia metro area, Parkland Plaza is close to key locales such as the Columbia Central Business District, the University of South Carolina, and the Cayce/ West Columbia River District. The property boasts excellent tenancy plus offers excellent value-add potential for tenant vacancy lease up and annual rental growth.

$21,102,227 USD – Property Details

• Property TypesRetail
• Use TypesShopping Center

Features

• Parkland Plaza — defines “being in the path of progress” – centered in the Downtown Columbia trade area to capitalize on its growth
• Large in-town site — offers excellent long-term future redevelopment potential
• Access and visibility — three convenient access points on Knox Abbott Drive, State Street and Axtell Drive; two traffic signals; excellent road frontage and visibility
• Strong tenancy — tenants have a long-term track record of occupancy and success at Parkland Plaza
• Food Lion — ranks #39 of 164 South Carolina Food Lion’s with over $22.7 million in sales
• #1 Planet Fitness — of 49 in South Carolina
• University of South Carolina — expanding rapidly toward the Congaree River district on east bank of the Congaree River
• Highest growth rates — for multifamily housing in the Columbia metro area
• Physical condition — the property is in very good condition with most spaces having been updated and upgraded
• Signange — iconic pylon signage
• Upside potential — Food Lion ground lease, vacant shop space and outparcel offers excellent upside potential
• Outparcel — highly desirable corner of Knox Abbott Drive and Axtell Drive
• Vacancies — offers leasing/redevelopment opportunity and options, particularly on the Axtell Drive side of the property