The Ruby Tuesday in the Crossroads Commons shopping center at 4600 Devine St. has closed and will be demolished as part of redevelopment plans for the center.
The Morgan Cos., based in Charlotte, acquired the 1.03-acre site fronting the Gamecock BI-LO and Staples-anchored shopping center at the intersection of Devine Street and Crowson Road. A $3 million redevelopment with space for three tenants is expected to open in early 2020, according to a news release.
Negotiations are currently ongoing with a dental practice and a South Carolina-based fast-casual restaurant to occupy an 8,250-square-foot retail center, the release said. Ruby Tuesday will be demolished in early 2019 to make way for the building, which will feature a 3,000-square-foot space still in search of a tenant.
"We’re prospecting for quick-serve restaurants for the third space," said Rich Sutphin, COO of the Morgan Cos.
The Shopping Center Group is the leasing agent for the property. A leasing flyer touts the shopping center as being in a desirable, high-visibility location with an annual average daily traffic count of 28,300, along with a 2017 population of 75,887 within three miles with a median household income of $50,012.
"This market is full of great retail," Sutphin said. "Columbia, we believe, is just great long-term real estate."
Ruby Tuesday also has locations at Dutch Square Mall and Columbiana Centre, along with restaurants at 7490 Garners Ferry Road and 2504 Augusta Road in West Columbia.
In Rock Hill, America’s Realty LLC has acquired an Ollie’s Bargain-Outlet shopping center. The 51,734-square-foot Market at Museum is at 87% occupancy, according to a news release. America’s Realty plans to find tenants for 7,000 vacant square feet and to extend leases with existing tenants.
Eastern Union Funding’s Marc Tropp arranged a $1.54 million loan for the acquisition of the shopping center, which he said has excellent frontage and visibility along Celanese Road.
In Irmo, South Carolina ENT Allergy Sleep Medicine will occupy 4,425 feet of office space at 690 Columbiana Drive. NAI Avant senior broker Jeff Hein represented landlord AM Properties LLC in the transaction.
NAI Avant also facilitated the sale of three acres of land off Bluff Road to Stan Johnson for $435,000. Senior broker Mac Fanning represented seller Southern Regional Industrial Realty Inc.
NAI Avant broker Lee Bussell Jr. represented landlord ACC Properties 2 LLC in the lease of a 28,775-square-foot industrial space at 293 Industrial Drive in Lexington. New tenant Hawkins HVAC Distributors will occupy suites C and D of the building.