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Wando Crossing

IFB 23-101-039
IFB 23-101-102
IFB 23-101-022
IFB 23-101-018
IFB 23-101-017

1500 N Hwy 17 | Mt Pleasant, SC 29464

Large-Scale Fortress Community Center in the Most Affluent Coastal Carolina Community

  • Wando Crossing, including the shadow Walmart Supercenter and unowned outparcels, is more than 425,000 square feet of gross leasable area on +/- 42 acres. The Property is conveniently positioned near the intersection of I-526 and North Highway 17, which combined have more than 126,000 VPD.

  • The population growth of 7% and an average household income in excess of $144,000 within a 15-minute drive time makes this market one of the fastest growing and most affluent communities in Coastal Carolina.

  • There are extreme barriers to entry due to the coastal, island nature of the region and no available parcels for large scale development. The scarcity of sites combined with very high land and construction costs in the area makes this a rare opportunity to own a fortress location far below replacement cost.


Grocery Shadow Anchored with Very Strong Performing Best-In-Category National Tenancy

  • Wando Crossing has a strong 10-year CAGR profile of 3.8% due to several below market anchor and shop tenants with no remaining renewal options. Some anchor rents are 50% below market, and current shop rents are 20%+ below market.

  • Nearly 84% of the GLA and over 78% of the revenue comes from best-in-category anchors / junior anchors including TJ Maxx (S&P: A), Marshalls / HomeGoods (S&P: A), Total Wine & More, Ashley Homestore, Michaels, Petco, and Five Below.

  • TJ Maxx and Marshalls / HomeGoods, all three brands of TJX Companies (S&P: A), have been at the Property for more than 20 years and account for 28% of revenue. Both stores are running out of renewal options, are very strong performers with low occupancy costs, and have significantly below market rents which presents a substantial mark-to-market opportunity.

  • Since joining the Property in 2020, Total Wine has reported robust sales.

  • Ashley Furniture signed a new long-term lease in 2022 and already is ranked the #1 out of 10 most visited stores in South Carolina (Creditntell).

  • Petco has been at the Property since 2008 and just exercised their final renewal option early at contractual rent, without concession. The Petco at Wando Crossing is ranked #5 out of 20 stores in South Carolina (Creditntell).

  • Wando Crossing is shadow anchored by a 188,470 square foot Walmart Supercenter that was built in the early 1990s and underwent an extensive renovation in 2018 that expanded the store’s footprint by 60,000 square feet to add a full grocery section.

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