FOR SALE: Gateway Center

Colliers is pleased to offer qualified investors the opportunity to acquire a ±28,056 SF, retail center in Newberry, SC (Columbia MSA) shadow-anchored by a Walmart Supercenter – the largest retailer in the world. The next closest Walmart is over 25 miles away in Irmo, providing a mission-critical Supercenter serving a wide range of consumers. Walmart has over 10,771 locations globally and achieved $648 B in revenue in 2024, employing over 2.1 million people. The subject property features longstanding tenants and national names, including CATO, Shoe Show, and T-Mobile. The remainder of the rent roll features local tenants that contribute to a weighted average tenure at this location of 16.8 years, reflecting the stickiness of the tenant mix. There is one shop space of 2,160 SF that is available for immediate occupancy. According to Placer AI, Shoe Show, Cato, and T-Mobile all rank within the top 20% of stores in the state / sq ft.

Furthermore, Gateway Plaza is in the primary retail corridor within Newberry. Nearby, surrounding retailers include but are not limited to Walmart Supercenter (shadow), Lowe’s, Tractor Supply, Starbucks, CVS, a newly developed Mavis, Autozone, Verizon, Dunkin, Starbucks, Wendy’s, and many others. The submarket is seeing strong development momentum, displaying tenant demand. It’s also located directly across from Newberry High School, which has a total enrollment of approximately 1,100.

This center has enjoyed a long, stable history of operation since it was constructed in 2000, professionally owned and managed by the Seller for the past ten years. The vacancy at the subject property allows for the ability to increase revenue streams. Furthermore, each tenant includes rental escalations as a hedge against inflation.

Newberry is conveniently located at exit 76 off I-26, about 30 minutes north of Columbia, and less than an hour south of Greenville, SC. The Travel Channel has named Newberry as one of the “most charming small towns in America”. Home to Newberry College, one of the Southeast’s most renowned Private Colleges, the school was founded in 1856 and has a total enrollment of 1,500+ students.

Newberry is located within the Columbia MSA, which is the second largest MSA in the state with a population of 1.1MM. The area has seen a population increase of over 17% since 2020. Columbia is the capital of South Carolina and home to the University of South Carolina.