Cedar Springs Crossing Acquired by Legacy Commercial Property

News Summary

Cedar Springs Crossing, a popular shopping center in Spartanburg, has been acquired by Legacy Commercial Property, promising major renovations and new developments. Located near WestGate Mall, the center currently has some vacancies but is set for revitalization that will enhance the shopping experience and attract new tenants. Legacy aims to invest significantly in improvements to signage, parking, landscaping, and the utilization of vacant land, making Cedar Springs Crossing an appealing destination for shoppers and businesses alike.

Exciting Changes Coming to Spartanburg’s Cedar Springs Crossing!

Spartanburg residents have great news to cheer about! Cedar Springs Crossing, the shopping center that has captivated shoppers for years, has been officially acquired by Legacy Commercial Property, a company based in Brentwood, Tennessee. The new ownership comes with promising plans for major renovations and developments that are sure to enhance the shopping experience and increase property value.

Location, Location, Location!

Located conveniently near the bustling WestGate Mall and a highly trafficked intersection, Cedar Springs Crossing has always been a prime spot for retailers. However, despite its great location, about 15% of the shopping center is currently vacant. But fear not! With Legacy at the helm, exciting changes are on the horizon. The shopping center was originally built back in 2000 and houses a total of 75,662 square feet of retail space. Some familiar tenants include crowd favorites like Subway, Bargain Hunt, and Happy Nails.

What’s the Plan?

Legacy has set its sights on making significant investments to rejuvenate Cedar Springs Crossing. The company’s plans include an array of enhancements — from improved signage to renovated parking lots, and even fresh paint jobs to clean up landscaping. These upgrades are aimed at increasing curb appeal and making the shopping center more accessible to customers. What’s more? The redevelopment will also make use of the vacant land surrounding the center for potential new developments.

In the midst of its current improvements, the shopping center has a Bi-Lo grocery store on-site, which still has two years left on its lease. In addition to this established tenant, Cedar Springs Crossing has six additional spaces available for lease, opening the door for new businesses to join the retail mix.

Spartanburg: A Growing Community

As if the excitement surrounding Legacy’s recent acquisition wasn’t enough, Spartanburg itself is on the rise! The city is expected to see a robust growth projection of 2.7% over the next five years, signaling a wealth of development opportunities. This makes the area even more attractive for new businesses and investments, especially in the retail sector.

Legacy Commercial Property isn’t just a one-off investor; it’s a thriving enterprise with interests in at least 18 states and a portfolio exceeding 700 properties nationwide. The company originated from the Family Video chain and has transformed into a commercial real estate powerhouse, zeroing in on sustained growth rather than quick property flipping. Its approach emphasizes long-term investments in communities, with a particular focus on revitalizing retail properties in emerging areas across the Sun Belt states.

What It All Means

For the shoppers of Spartanburg, all these changes not only promise to improve the overall shopping experience but also aim to cultivate a welcoming community atmosphere. By investing in the aesthetic and functional upgrades at Cedar Springs Crossing, Legacy is investing in the future of Spartanburg’s shopping scene. Whether you’re stopping by for a quick bite at Subway or looking for great deals at Bargain Hunt, the enhancements underway promise to make this shopping center a real gem in the community.

So, gear up Spartanburg! Change is on the way, and Cedar Springs Crossing is about to shine brighter than ever before!

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