Woodberry Plaza in West Columbia Sold for $4.2 Million

News Summary

The Woodberry Plaza retail center in West Columbia has been sold for $4.2 million. This fully occupied shopping destination sits on 13.48 acres and spans 84,110 square feet. Its prime location near well-known retailers like Walmart and Lowe’s has contributed to its success and appeal. The sale was facilitated by Marcus & Millichap, with the new buyer looking to expand investments in the thriving Columbia Metropolitan Statistical Area. The plaza’s key tenant, Big Lots, continues to operate despite recent challenges, signaling a strong retail market in West Columbia.

Woodberry Plaza in West Columbia Sees Successful Sale for $4.2 Million

West Columbia has made headlines once again with the recent sale of the **_Woodberry Plaza_** retail center, which has been purchased for a whopping **_4.2 million dollars_**. This charming six-suite retail strip property is more than just a shopping destination; it’s a testament to the thriving commercial landscape in the area.

All About Woodberry Plaza

Woodberry Plaza is strategically located at **_3230-3260 Augusta Road_**, just a stone’s throw from the busy Interstate 26. Sitting on an impressive **_13.48 acres_**, this bustling shopping center boasts a total area of **_84,110 square feet_**. With its **_full occupancy_** for more than four years and zero vacancies, it’s evident that this plaza is a favorite among shoppers and retailers alike.

Prime Location and Nearby Retailers

The retail center is nestled in the primary retail corridor of the West Columbia submarket, surrounded by some well-known retailers. Shoppers will find convenient access to **_Walmart, Lowe’s,_** and **_Aldi_**, making Woodberry Plaza an inviting stop for both locals and visitors. With its perfect placement near other popular shopping destinations, it’s no surprise that the plaza continues to flourish.

The Buyer and Future Prospects

The sale of Woodberry Plaza was facilitated by the commercial real estate brokerage firm **_Marcus & Millichap_**. After an extensive search, the buyer, who is affiliated with **_Nova Management_**, felt confident about expanding his real estate holdings within the **_Columbia Metropolitan Statistical Area (MSA)_**. With the retail market showing promising trends, it’s a wise move for the buyer to dive into property investments like Woodberry Plaza.

Big Lots: A Key Player

One of the star attractions of Woodberry Plaza is **_Big Lots_**. Despite facing some challenges recently, including filing for Chapter 11 bankruptcy protection last September, the store has managed to stay afloat and continues to be one of the top performers in the state. Thanks to a strategic agreement that allows many Big Lots locations to stay operational, shoppers can expect to see **_Big Lots_** thriving within Woodberry Plaza for the foreseeable future.

The Bigger Picture

The buying confidence in retail properties like Woodberry Plaza comes amid reports of **_low retail vacancy rates_**, boosting the appeal of investment in commercial real estate. The market remains optimistic as companies such as **_Gordon Brothers Retail Partners_** step in to manage and possibly sell certain Big Lots locations, ensuring that the brand continues its legacy. Exciting developments are happening too, with **_Variety Wholesalers Inc._** planning to purchase **_200 to 400_** Big Lots stores, keeping the beloved brand alive.

West Columbia’s Bright Future

The sale of Woodberry Plaza is another sign of **_West Columbia’s_** robust economic health. With a mix of established stores and emerging opportunities, the local retail scene is promising and poised for growth. Residents and shoppers can look forward to the continuing evolution of their favorite retail spots, making shopping more convenient and enjoyable than ever. As the real estate market flourishes, West Columbia is certainly a location to keep an eye on!

With all these exciting developments, Woodberry Plaza is not just an ordinary shopping center; it’s a growing hub of activity in West Columbia, promising both investment potential and a vibrant shopping experience.