Mt. Pleasant Town Center

Mount Pleasant Town Center

The New Mount Pleasant Town Center Is Convienently Located On Highway 17 North.

Mount Pleasant Town Center Entrance

One Of The Many Shop Lined Streets In The Mt. Pleasant Town Center

"Art Deco" Movie Theater at the Mount Pleasant Town Center

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My Favorate Restaurant In The Town Center For A Quick Lunch

Atlanta Bread Company

Click For Mount Pleasant Town Center Web Site and Map

Acorn Fashion American Eagle Fashion Athlete's Foot Shoes Atlanta Bread Restaurant Baby Bloomers Children's Clothing & Toys Banana Republic Fashion Barnes & Noble Bath & Body Works Health & Beauty Bed Bath & Beyond Department Stores Belks of Mount Pleasant Benito's Italian Restaurant Birkenstock Shoes Bull & Finch Restaurant & Pub Calico Closet Children's Clothing & Toys Casual Corner Annex Fashion Casual Corner Petite Fashion Casual Corner Women's Fashion CellularSouth Music & Electronics Charleston Ice Cream Factory Restaurant Chico's Fashion Chili's Grill & Bar Restaurant Claire's Jewelry & Accessories Copper Penny Fashion Dr. Hershon Orthodontics Services Earth Fare Restaurant East Side Interiors Furniture, Garden & Home Accessories EB Game World Children's Clothing & Toys Edward Jones Services GAP Fashion GAP Kids Children's Clothing & Toys Gem & Goldsmith Shop Hallmark Creations Jos. A. Bank Fashion Learning Express Children's Clothing & Toys Liz Claiborne Shoes Shoes LongHorn Steakhouse Restaurant Low Country Vision Center Services Millennium Music Music Mimi Maternity Fashion Mrs. Capper's Garden & Gifts O'Hara & Flynn Wine Merchants Restaurant Old Navy Fashion On The Border Restaurant Oscar Thompson Shoes Palmetto Grande 16 Stadium Cinema Theater Palmetto Moon Cards, Gifts & Books Pier 1 Imports Pink Flamingo Fashion Port City Java Pretzel Twister Rack Room Shoes Shoes Ritz Camera / One Hour Photo Sprint PCS Music & Electronics Stella Nova Spa / Salon Department Sweet Julep's Candy & Gifts Swim 'n Sport Fashion Tango Bay Fashion Towne Centre Tobacco & Gifts Tweeter Music & Electronics Victoria's Secret Fashion Vitamin World Health & Beauty White House / Black Market Fashion Yankee Candle Cards, Gifts & Books

The Mount Pleasant Towne Centre was sold in October of 2006 for more than $134.3 million - a staggering chunk of change that wowed even seasoned retail and real estate observers.

"I don't know if that's a record, but it's certainly near the top from a price standpoint," said John Darby, chief executive of The Beach Co., a Charleston-based real estate investment firm that considered buying the property several years ago.

Experts said the dollar value of the deal, easily more than double what the previous owner paid in 2002, validates Towne Centre's success as a regional shopping destination.

It also is the most telling sign yet that deep-pocketed international investors that would have snubbed Charleston 15 or 20 years ago are now sinking some serious cash into the local real estate market.

The bullish buyer in this case is IMI Mount Pleasant, a division of Illinois-based Miller Capital Advisory Inc, property records show. It paid $134.3 million. The seller, New York-based DRA Advisors Inc., snapped up the property for $55.3 million about four years ago.

The hefty purchase price suggests the new owner is confident that the shopping, dining and entertainment complex off U.S. Highway 17, just south of the Isle of Palms Connector, will continue to thrive, said Mount Pleasant town administrator Mac Burdette.

"They would not make that kind of investment if they didn't think the market was strong," he said.

The spike in the center's value also means more property taxes, he added.

Commercial Real Estate Broker Chris Fraser said the nine-figure sale is a ringing endorsement of Mount Pleasant as a shopping destination. That, in turn, could entice other big-name retailers to open stores in the town.

Mount Pleasant resident Bob Faith, whose Greystar Real Estate Partners invests tens of millions of dollars all over the country on behalf of its clients, offered similar sentiments.

The Towne Centre sale "proves Charleston is the type of market that institutional capital is interested in," said Faith, a former South Carolina commerce secretary.

Oakland Plantation - The New Mt. Pleasant Shopping Center 

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