Piedmont Welcomes New Owners of QuikTrip Gas Station!
If you’ve driven through Piedmont lately, you might have noticed a little buzz around town. That’s because a QuikTrip gas station recently changed hands, and the whole process unfolded in a snap! Thanks to the team over at Marcus & Millichap, this property was sold in just 76 days, which is pretty impressive in the real estate world.
Property Highlights
The gas station is strategically located on 3.19 acres at 2085 Highway 86, right off the bustling Interstate 85. This spot sees an astonishing 84,000 vehicles pass by each day – talk about prime real estate! If that wasn’t enough to catch anyone’s attention, the station has been one of the top performers among QuikTrip locations across the country. In fact, it ranks in the top 5% nationwide, attracting over 790,000 visitors just in the past year alone.
Why Were Buyers Interested?
So what is it about this QuikTrip that drew in the buyers like moths to a flame? Well, beyond its highly visible location and the steady foot traffic, the station is situated near several major employers like Bosch, Coca-Cola, and Budweiser. Plus, there’s significant growth happening nearby, notably a $35 million health care development just around the corner, which is expected to ramp up activity even further in the area.
The Sale Process
The sales process was handled by investment specialists Timothy Nichols, Sean Sharko, and Austin Weisenbeck, who operate out of Marcus & Millichap’s Chicago Oak Brook office. As they marketed the property, they were able to attract an out-of-state buyer from Phoenix, Arizona. While the financial terms of the deal aren’t public, the transaction was noted to have a sub 6% cap rate – a figure that indicates a strong investment for the buyer.
Ben Yelm, who acts as the broker of record in South Carolina, also played a role in tying up the loose ends and finalizing the deal. Nichols noted that interest in this high-traffic retail property is a clear indicator of Piedmont’s thriving market.
Community Impact
Buying this QuikTrip isn’t just a business move; it’s part of an ongoing transformation in Piedmont. The bustling intersection where the gas station sits is poised for further development, which could lead to more jobs and amenities for local residents. With new projects popping up around town, including those tied to the health care sector, it seems Piedmont is on the way to becoming an even more lively hub of activity.
The Future Looks Bright
As such developments unfold and more businesses take root in the area, it will be exciting to watch how the local economy benefits and grows. The sale of the QuikTrip property is just one piece of the puzzle in a vibrant and expanding community. Residents can expect to see even more energy and engagement as the town continues to attract both retail operations and larger employers.
Whether you’re a local or just passing through, it’s clear that Piedmont is no longer just a pit stop on the highway – it’s turning into a destination. Keep an eye on this developing story as more exciting changes come to town!
