{"id":1004185590,"date":"2017-08-01T11:41:01","date_gmt":"2017-08-01T19:41:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004185590"},"modified":"2022-12-08T16:06:32","modified_gmt":"2022-12-09T00:06:32","slug":"pac-lands-sc-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/","title":{"rendered":"PAC Lands SC Shopping Center"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004185591\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004185591\" data-attachment-id=\"1004185591\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/capture-117\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg\" data-orig-size=\"1046,704\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Laura Calugar&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1501590610&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Capture\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg?w=1024\" class=\"wp-image-1004185591 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg\" alt=\"Irmo Station in Columbia, S.C. \" width=\"300\" height=\"202\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg 1046w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg?resize=300,202 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg?resize=768,517 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg?resize=1024,689 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004185591\" class=\"wp-caption-text\">Irmo Station in Columbia, S.C.<\/p><\/div>\n<p>Preferred Apartment Communities Inc. (PAC) purchased Irmo Station, an approximately 99,384-square-foot shopping center in the Columbia, S.C., MSA and anchored by a 56,942-square foot Kroger grocery store. PAC acquired this asset through its wholly owned subsidiary, New Market Properties LLC. The company financed the acquisition utilizing a non-recourse first mortgage loan from Nationwide Mutual Insurance Co. The first mortgage loan is approximately $10.7 million, bears interest at fixed rate of 3.94 percent per annum and matures in 2030. There are no loan guarantees provided by PAC or its operating partnership.\u00a0<\/p>\n<p>Located at 7467 St. Andrews Road in Irmo, a Columbia suburb, the shopping center is just one mile off of Interstate 26, the main highway connecting Greenville, S.C., to Charleston, S.C. More than 42,000 people live within a three-mile radius of the property, with average incomes of more than $82,000.<\/p>\n<h2>Expanding portfolio<\/h2>\n<p>New Market closed on more than $330 million of retail in 2016 alone. Six of the company\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-outlook-not-so-dire\/\">shopping centers<\/a> are in The Palmetto State. \u00a0<\/p>\n<p><em>&#8220;The acquisition of Irmo Station increases the size of our retail portfolio to 34 grocery-anchored shopping centers across seven Sunbelt states, consistent with our strategy to acquire well-positioned grocery-anchored shopping centers in suburban Sunbelt markets with strong demographics,<\/em>&#8221; said New Market President &amp; CEO Joel Murphy, in a prepared statement.<\/p>\n<p><em>Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The corporation acquired Irmo Station in Columbia, S.C., through a subsidiary, using a $10.7 million mortgage loan. A Kroger grocery store anchors the 99,000-square-foot retail asset. <\/p>\n","protected":false},"author":238,"featured_media":1004185591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21742,21749,32781],"tags":[35626,33583,35188,33087],"class_list":["post-1004185590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-latest","category-retail","category-southeast","tag-kroger-company","tag-nationwide-life-insurance-company","tag-new-market-properties-llc","tag-preferred-apartment-communities-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PAC Lands SC Shopping Center - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PAC Lands SC Shopping Center\" \/>\n<meta property=\"og:description\" content=\"The corporation acquired Irmo Station in Columbia, S.C., through a subsidiary, using a $10.7 million mortgage loan. A Kroger grocery store anchors the 99,000-square-foot retail asset.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-01T19:41:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:06:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1046\" \/>\n\t<meta property=\"og:image:height\" content=\"704\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/\",\"name\":\"PAC Lands SC Shopping Center - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg\",\"datePublished\":\"2017-08-01T19:41:01+00:00\",\"dateModified\":\"2022-12-09T00:06:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/2f8b737fce677cc406c08a2c29c1ff38\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg\",\"width\":1046,\"height\":704},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"PAC Lands SC Shopping Center\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/2f8b737fce677cc406c08a2c29c1ff38\",\"name\":\"Laura Valean\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Laura-Calugar.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Laura-Calugar.jpg?w=96\",\"caption\":\"Laura Valean\"},\"description\":\"Laura Valean is an Executive Editor with Commercial Property Executive and Multi-Housing News. She has a 12-year background in broadcast media and joined the CPE-MHN team in 2016. Laura writes and edits in-depth stories on the hottest topics in the real estate industry, but she is also the host of award-winning podcast shows for both brands. Laura holds a B.A. in Journalism and an M.A. in Media Management. \ud83d\udce7 laura.valean@cpe-mhn.com\",\"jobTitle\":\"Senior Editor\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/laura-valean\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"PAC Lands SC Shopping Center - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/","og_locale":"en_US","og_type":"article","og_title":"PAC Lands SC Shopping Center","og_description":"The corporation acquired Irmo Station in Columbia, S.C., through a subsidiary, using a $10.7 million mortgage loan. A Kroger grocery store anchors the 99,000-square-foot retail asset.","og_url":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-08-01T19:41:01+00:00","article_modified_time":"2022-12-09T00:06:32+00:00","og_image":[{"width":1046,"height":704,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg","type":"image\/jpeg"}],"author":"Laura Valean","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/","url":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/","name":"PAC Lands SC Shopping Center - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg","datePublished":"2017-08-01T19:41:01+00:00","dateModified":"2022-12-09T00:06:32+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/2f8b737fce677cc406c08a2c29c1ff38"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg","width":1046,"height":704},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/pac-lands-sc-shopping-center\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"PAC Lands SC Shopping Center"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/2f8b737fce677cc406c08a2c29c1ff38","name":"Laura Valean","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Laura-Calugar.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Laura-Calugar.jpg?w=96","caption":"Laura Valean"},"description":"Laura Valean is an Executive Editor with Commercial Property Executive and Multi-Housing News. She has a 12-year background in broadcast media and joined the CPE-MHN team in 2016. Laura writes and edits in-depth stories on the hottest topics in the real estate industry, but she is also the host of award-winning podcast shows for both brands. Laura holds a B.A. in Journalism and an M.A. in Media Management. \ud83d\udce7 laura.valean@cpe-mhn.com","jobTitle":"Senior Editor","url":"https:\/\/www.commercialsearch.com\/news\/author\/laura-valean\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/Capture.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004185590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/238"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004185590"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004185590\/revisions"}],"predecessor-version":[{"id":1004185742,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004185590\/revisions\/1004185742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004185591"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004185590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004185590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004185590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}