Murrells Inlet’s Prince Creek Shopping Village Changes Hands for Less Than $6.4 Million
In a surprising twist in the bustling commercial scene of Murrells Inlet, the Prince Creek Shopping Village, which is nestled right next to a popular Publix and the TPC Myrtle Beach golf course, has recently changed ownership. The property located at 11920 South Carolina Highway 707 sold for just under $6.4 million, a notable figure well above its previous sale price back in September 2019 when it was purchased for about $4.9 million.
What’s Going On?
This less-than-seven-acre shopping hub is often bustling with activity, drawing in shoppers and golf enthusiasts alike. According to local records, the latest sale was reported by the commercial real estate pros at NAI Merin Hunter Codman, Inc. In their official announcement, they revealed that the new owners are none other than Zapolski Real Estate, LLC, through their affiliate company, Prince Creek Investments, LLC.
Now, you might be wondering, what are the plans for this recently acquired shopping center? Well, it seems the new principal, Todd Zapolski, has a different approach. “We like the market, and it’s got a very strong growth picture,” shared Zapolski. He also mentioned that there aren’t any immediate plans to renovate or redevelop this relatively modern property. Rather, the focus will primarily be on ensuring that it remains a “strong asset.”
Long-Term Goals
Zapolski’s investment strategy is all about flexibility. Whether it’s holding properties for a decade or just a year, their plans will ebb and flow depending on market conditions. “We don’t have a certain timetable that we will hold it,” he noted, indicating an openness to whatever the future might hold for the shopping village and the overall economy.
A Busy Retail Scene
The sale of the Prince Creek Shopping Village isn’t the only shake-up happening in the Murrells Inlet area. Just nearby, demolition activities have kicked off at the Inlet Square Mall, located at 10123 Highway 17 Bypass North. Construction crews are hard at work to revamp the mall into an exciting new retail center, complete with a hotel and possibly even a residential component!
With the ongoing developments at Inlet Square Mall spearheaded by Paramount Development Corporation, this region is poised for some serious transformation. Excitement is buzzing as the local community anticipates the changes that are set to enliven the retail landscape even further.
What’s Next for the Community?
It’s an exciting time to be in Murrells Inlet, with the retail scene in a state of flux, and potentially ushering in a wave of new business opportunities. As Todd Zapolski from Zapolski Real Estate said, this market isn’t just beneficial today, but there’s also a “very strong growth picture” for the future.
As property transitions keep occurring and new developments arise, the residents and visitors of Murrells Inlet can look forward to a more vibrant community with plenty to offer. So whether you’re a local or just visiting, keep your eyes peeled for the fresh wave of changes enhancing this charming area, because exciting times are ahead!
Stay tuned for more updates regarding the latest happenings in the Murrells Inlet area!
