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Springdale Plaza changes hands

May add restaurant between Goodwill and Rue 21

Posted: April 10, 2015 3:42 p.m.
Updated: April 13, 2015 1:00 a.m.
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An aerial view of Springdale Plaza in Camden, recently purchased for $11.8 million by a real estate investment firm. ProVest PDQ Properties may, according to Camden City Planner Shawn Putnam, be planning to use a portion of the parking lot adjacent to Springdale Drive for a new restaurant.

Springdale Plaza has a new owner. In mid-February, ProVest PDQ Sprindale LLC, part of a merger between ProVest Properties, an investment company, and PDQ Properties Corp. Officially, according to a deed filed at the Kershaw County Registrar of Deeds Office, ProVest PDQ paid $10 and “other valuable consideration” to DDR DownREIT LLC, an Ohio limited liability company. DDR used to be known as Developers Diversified Realty Corp.

The value of the other consideration is listed on an Affidavit for Taxable or Exempt Transfers sheet attached to deed as $11.8 million.

The transfer includes three parcels: one containing the Goodwill store and a large portion of the parking lot adjacent to Springdale Drive; a small parcel holding the parking lot for the building with Rue 21 on one end and Hibbett Sports on the other; and the largest parcel with the remainder of the plaza, including the Rue 21 building, and the remaining parking spaces. The Gate convenience store and Arby’s restaurant are owned by other companies and are not part of the transaction.

ProVest lists the Springdale Plaza purchase as its most recent transaction. It lists the property as a 179,000 square foot “market dominant shopping center,” 94 percent occupied with “an exciting lineup of national/regional tenants,” including Belk, Burke’s Farmer’s Home Furniture, Goodwill, Dollar Tree and Gamestop.

ProVest said the plaza has an “upside potential” of 9,600 square feet -- likely unoccupied store fronts -- “in addition to a potential outparcel.”

Camden City Planner Shawn Putnam said ProVest may have a plan to use part of the parking lot bring in a new business.

“I’ve heard they’re possibly thinking of using part of the parking lot for a restaurant,” Putnam said. “I haven’t heard which one. We looked over it from a number of parking spaces point of view, but even if they did that, they would already be over the minimum requirement for parking spaces.”

Putnam said while he has not heard directly from the company, ProVest may be thinking of using a little-used section of the parking lot near Springdale Drive next to Rue 21.

Another limited liability corporation -- ProVest PDQ Springdale Outparcel LLC -- also spent $1,600 to purchase a 2.63-acre parcel containing a retention pond directly behind Walmart on the other side of Springdale Drive. Putnam said he was unaware of that purchase and did not know for what purpose ProVest would use it.

John Perri, ProVest’s chief financial officer, did not return a message seeking comment by deadline Friday.

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