CenterSquare Purchased Greenville Retail Center
The investment firm acquired the fully occupied Pelham Hills property for $11.7 million in early September.
Updated on Sept. 30, 2026 in Commercial
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CenterSquare finalized its purchase of the Pelham Hills retail center in Greenville during early September 2026. The property, located at the busy intersection of Pelham Road and Interstate 85, is currently at 100 percent occupancy.
Why it matters
The acquisition aligns with the firm's strategic focus on securing unanchored, essential service retail centers within robust demographic submarkets. High traffic volumes at the site ensure continued visibility and access for the center's tenants.
The retail center occupies a high-traffic zone where Interstate 85 sees 139,200 vehicles daily and Pelham Road sees 28,700. The deal marks one of 13 total acquisitions completed by the firm across the Carolinas.
The players
CenterSquare
CenterSquare is an investment firm that has completed 88 acquisitions nationwide, including 13 properties located in the Carolinas.
The details
CenterSquare acquired the retail site situated at the interchange of Pelham Road and Interstate 85 to strengthen its regional footprint. The property continues to maintain full occupancy, reflecting the stability of the local retail market.
Timeline
The acquisition of the Pelham Hills retail center was completed in early September 2026.
The company reported the 100 percent occupancy status for the property on September 28, 2026.
Culture Shift
This investment follows the broader trend of institutional focus on unanchored, essential service retail centers in high-growth areas. Such assets are increasingly favored for their resilience compared to larger regional malls that rely on department store anchors.
Shoppers and residents visiting the Pelham Hills center should not expect immediate changes to the retail experience due to the building's current full occupancy. This acquisition represents a shift in property ownership rather than a change to daily site utility.
The takeaway
Commercial real estate investors continue to target high-traffic suburban interchanges to capitalize on consistent daily vehicle volume. Identifying properties with existing full occupancy helps firms mitigate risk while expanding their regional portfolios.
Further reading
For more information on market trends in the region, visit the Greenville Commercial section.
Source note: This article includes information reported by Post and Courier.
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