Sprouts Grocery-Anchored Retail Center for Sale in Greenville MSA

Monday, August 13, 2018

Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing for sale The Shops at Trinity Park, a 44,290-square-foot, newly constructed Sprouts-anchored shopping center located in the Greenville MSA. The retail center for sale has a dynamic tenant mix, significant income security and an excellent demographic profile in addition to representing a rare opportunity to acquire the 300th Sprouts store in the chain.

The Shops at Trinity Park is in Greenville’s institutional retail corridor at 2200-2202 Woodruff Road in Simpsonville, a suburban community approximately 12 miles from downtown Greenville. Greenville, which was ranked the No. 1 city for economic potential by fDi’s American Cities of the Future, has experienced a population growth of 20 percent since 2000, and the population is projected to grow  by 15.52 percent between 2010 and 2023. Greenville is home to Clemson University, the top-ranked university in South Carolina, which has an enrollment of more than 23,400 students. 

Completed in 2018, the retail property for sale is nearly 97 percent leased and, in addition to the grocery anchor, is home to Hollywood Feed, Berkshire Hathaway, Marble Slab Creamery, Great American Cookie Company, Bishop Cuts, Namaste Nail Sanctuary and Kairos Greek Kitchen.

The Shops at Trinity Park Retail Investment Highlights

  • First Sprouts Farmers Market Location in South Carolina:  Sprouts Farmers Market is a highly sought-after grocery with strong sales and is ranked as one of the fastest-growing retailers in the country. This location is the 300th Sprouts store to open and the first location in South Carolina. The store is new construction with high-end architectural finishes, and the 500 feet of at-grade frontage exposes the store to more than 32,000 vehicles per day to the significant daytime population in the area.
  • Explosive Demographic Growth:  The Shops at Trinity Park’s trade area has experienced exponential growth over the past 18 years. Buying power is increasing by 56 percent to nearly $5 billion, and the  growth of an additional 20 percent is expected over the next five years -- positioning the asset for long-term value appreciation.
  • Concentrated Wealth:  The Shops at Trinity Park is surrounded by highly concentrated pockets of wealth, as seen in the image on the right. The tenancy at the retail center for sale has been designed to cater to the shopping preferences of the affluent customer base. More than 55,000 residents earning an average annual household income of $115,018 live within a three-mile radius of the retail property for sale.
  • Well-Designed, Diversified Merchandising Mix:  The Shops at Trinity Park is a quintessential neighborhood center that offers a variety of everyday uses that cater to the surrounding bedroom communities. Fifty-five percent of revenue is from the Sprouts grocery anchor, with the remaining space going to service-oriented shops (10 percent), pet supplies (10 percent), restaurants (14 percent) and non-retail uses (11 percent).

The newly constructed The Shops at Trinity Park has a diversified and internet-proof tenancy in an area with exceptional demographics. The call for offers date is August 22, 2018. For more information on this or other available retail properties in the Southeast, please contact Brad Buchanan or Tom Kolarczyk

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