DNA Partners Aquires Gallery Shopping Center in Greenville, SC
DNA Partners ("DNA") purchased The Gallery, a 142,000 square foot retail center on Haywood Road in Greenville SC. Anchored by Gabe's and Conn's and featuring a Chick-Fil-A at its entrance, The Gallery stretches along 1,100 linear feet of this regional retail corridor.
"We have been trying to enter the Greenville MSA for several years and The Gallery is ideal as it is situated for strong tenant growth," says Amy Stevens, partner at DNA. "With the Swamp Rabbit Trail nearby and easy access to I-85 and downtown, Gallery provides the draw we were looking for. This shopping center also benefits from the regional draw provided by the newly renovated Simon Mall and soon to be opened Cheesecake Factory across the street."
"Our vision for the center follows a two-pronged approach for tenant growth," says David Weinstein, partner at DNA. "We are drafting architectural plans which will create a community feel in the courtyard with outdoor seating and landscaping. The second phase will be a redesign of the side building to accommodate active outdoor lifestyle tenants."
This acquisition brings the current owned and managed DNA portfolio to over 1.1 million square feet. Since its inception in 2002, DNA purchased over 2.1 million square feet. DNA targets high growth markets and shopping centers with below market rents, reposition potential, strong sales, significant linear frontage, and reasonable potential for capital appreciation through management and leasing opportunities.