Press Releases
Marcus & Millichap Sells High Vacancy Shopping Center in Anderson, S.C. for $5.9M
May 05, 2025
ANDERSON, S.C., May 5, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Windsor Place Shopping Center, a 10-suite retail shopping center in Anderson, South Carolina. The property sold for $5.9 million through an online auction sale conducted by Marcus & Millichap.
The auction attracted significant investor attention, with 138 signed confidentiality agreements, 13 registered bidders and a winning bid that came in 64% above the reserve price.
“Bidding for Windsor Place was highly competitive, with interest from both developers and users,” said Andrew Margulies, senior managing director investments. “The buyer plans to convert the property into a medical facility for AnMed Hospital System, which will further strengthen the area’s dynamic growth. The property is located in between two AnMed Hospital campuses which makes Windsor Place a strategic location. There was a lot of interest from retail users and buyers as well. With Anderson’s steady population growth and low retail vacancy, we anticipate continued upward pressure on retail rents in the Greenville-Anderson market.”
Margulies, Harrison Creason and Alex Buckman, investment specialists in Marcus & Millichap’s Raleigh and Charleston offices, had the exclusive listing to market the property on behalf of the seller, a private partnership. The agents collaborated with Adam Sklaver and Philip Kates of Marcus & Millichap’s Commercial Property Auction Services to market the asset and secure the buyer, an affiliate of AnMed Hospital System.
Windsor Place is an approximately 82,267-square-foot, multi-tenant shopping center located at 1520 E. Greenville St. Positioned within the Greenville MSA, the property is 25% occupied and anchored by national tenants including Goodwill and ATI Physical Therapy. The center is in a strong retail corridor, less than two miles from AnMed Medical Center and Anderson University.
The auction attracted significant investor attention, with 138 signed confidentiality agreements, 13 registered bidders and a winning bid that came in 64% above the reserve price.
“Bidding for Windsor Place was highly competitive, with interest from both developers and users,” said Andrew Margulies, senior managing director investments. “The buyer plans to convert the property into a medical facility for AnMed Hospital System, which will further strengthen the area’s dynamic growth. The property is located in between two AnMed Hospital campuses which makes Windsor Place a strategic location. There was a lot of interest from retail users and buyers as well. With Anderson’s steady population growth and low retail vacancy, we anticipate continued upward pressure on retail rents in the Greenville-Anderson market.”
Margulies, Harrison Creason and Alex Buckman, investment specialists in Marcus & Millichap’s Raleigh and Charleston offices, had the exclusive listing to market the property on behalf of the seller, a private partnership. The agents collaborated with Adam Sklaver and Philip Kates of Marcus & Millichap’s Commercial Property Auction Services to market the asset and secure the buyer, an affiliate of AnMed Hospital System.
Windsor Place is an approximately 82,267-square-foot, multi-tenant shopping center located at 1520 E. Greenville St. Positioned within the Greenville MSA, the property is 25% occupied and anchored by national tenants including Goodwill and ATI Physical Therapy. The center is in a strong retail corridor, less than two miles from AnMed Medical Center and Anderson University.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
