Big Shopping Centers Acquires Majority Interest in Crosspointe Plaza

GREENVILLE, SC—Big Shopping Centers USA of Beverly Hills, CA reports it has entered into a joint venture with RealtyLink to acquire the Crosspointe Plaza shopping center here where Big Shopping Centers secured an 85% interest in the property, while RealtyLink maintains the remainder of the interest in the complex.

Crosspointe Plaza is a 124,200-square-foot community center located across from the Haywood Mall. The tenant roster includes: T.J.Maxx, DSW, JoAnn Fabrics and Crafts, Burkes Outlet, Up 2 Us Furniture, Jason's Deli, Chipotle and other national and regional retailers and services. The shopping center was originally constructed in 1989 and redeveloped by RealtyLink in 2013.

The deal closed on Oct. 22. No additional financial details of the transaction were released.

“This acquisition not only marks the addition of another high-quality property to BIG USA's retail portfolio—our first in South Carolina—but also our first deal with RealtyLink,” says Dan Eisenberg, vice president–east, Big Shopping Centers USA. “Our partnership is an important part of this transaction. Our strategy calls for us to marry-up with operators with significant, regional market knowledge. With RealtyLink as our partner, we hope to expand our footprint in the Southeast.”

“As regional owner-operators, the RealtyLink team brings not only our extensive market knowledge but also our thorough understanding of both leasing and management fundamentals to the partnership,” says Neil Wilson, principal, RealtyLink, LLC, which is based in Greenville. RealtyLink will continue to lease and manage the retail property.