Continental Realty sells Mount Pleasant retail center

Baltimore-based Continental Realty Corp. completed the sale of Sweetgrass Corner and The Shops at Towne Centre Way, home to Mount Pleasant’s Trader Joes, HomeSense and Golf Galaxy.

All the properties in the 95,370-square-foot space were completely leased at the time of sale. When purchased by CRC in 2022, 33% of the property was leased and it included a former Bi-Lo grocery store that space that was vacant for two years.

“We saw an opportunity to reposition an underperforming asset, elevate the tenancy and create a stronger retail environment alongside Mount Pleasant Towne Centre,” Haley Gallagher, chief operating officer of Continental Realty Corp., said in a news release. “The transformation of Sweetgrass Corner reflects the strength of our operating platform, our retailer relationships and our conviction in the Mount Pleasant market. We are proud of the outcome and the value created through our team’s execution.”

CRC owns and manages around 10 million square feet of retail space, as well as about 1,000 apartment homes in Mount Pleasant, Daniel Island and Summerville.

“Our leasing strategy focused on assembling a tenant mix that would strengthen the overall trade area while complementing Mount Pleasant Towne Centre,” Kristina O’Keefe, senior vice president of retail operations for CRC, said in the release. “The result is a collection of retailers that serves the community exceptionally well and positions the property for long-term success.”

The property is located at 1903 and 1909 U.S. Highway 17 North.