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prominent retail center in Spartanburg is set to undergo a transformation after being purchased by Legacy Commercial Property, a national commercial real estate company. The Tennessee-based firm has invested in several properties across the country, including Cedar Springs Crossing, with plans to revitalize and improve them.
Spartanburg's projected 2.7% growth over the next five years presents significant development opportunities, according to Legacy. The 2000-built Cedar Springs Crossing features a mix of national and local tenants, but is currently 15% vacant. The site includes a vacant Bi-Lo grocery store building and six available spaces for lease.
Legacy plans to invest in the property by installing new signage, improving parking lots, repainting, landscaping cleanup, and making facade alterations. Additionally, there are plans for new development on the vacant land. The company has a proven track record of identifying emerging markets and partnering with business owners to enhance shopping centers' curb appeal and property value.
"We take pride in our role as dedicated stewards of the properties we own and manage," said Ben Hoogland, vice president of Legacy Commercial Property. "Our commitment remains steadfast: to invest in communities for the long haul and prioritize partnerships that drive sustainable growth."
Legacy was founded by the Hoogland family, who have a history of owning and operating Family Video real estate. Today, the company oversees more than 700 properties nationwide and has refined its expertise in real estate management and development.
