APG Capital has acquired Camden Square, a shopping center spanning 69,661 square feet in Camden, South Carolina. The property was purchased from BMS Camden II Associates for $4.5 million, reflecting a cap rate of 8.0%.
Constructed in 1981, Camden Square benefits from a prime location along US-601, which sees 34,200 vehicles per day. A complete renovation in 2021 revitalized the structure, presenting a near-new construction with a modern façade, upgraded utilities, and an improved parking lot.
This updated shopping center is among the most frequented in the area, featuring co-anchor tenants such as Ollie’s Bargain Outlet and Planet Fitness, along with other tenants like Pee Dee Outfitters and Camden Mattress Outlet. Additionally, a build to suite quick-service restaurant is nearing completion on an adjacent outparcel.
According to Daniel Walser, “the acquisition is attractive to our team given the quality condition of the building and the resurgence of activity in this node of Camden, SC. We’re excited to contribute our expertise to Camden’s growth and play a role in supporting the community’s continued development.”
Congratulations to James Anthony, III, Vice President of Acquisitions and Asset Manager, and Daniel Walser, Vice President of Acquisitions, for successfully sourcing the deal and facilitating the closing.
APG Capital, led by seasoned Raleigh real estate veteran Jim Anthony, has been involved in purchasing, developing, leasing, and managing commercial real estate assets in the Southeast for over 37 years.
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