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HILTON HEAD, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.2 million sale of Port Royal Plaza, a 90,860-square-foot shopping center in Hilton Head. The property’s anchor tenants include Planet Fitness and AutoZone. The seller, an entity doing business as GFB Associates LLC, sold the center to Ronicks LLC, a private investor based in Tennessee. Zach Taylor of IPA brokered the transaction.
“Port Royal Plaza is a landmark center on the north end of Hilton Head Island,” says Taylor. “The real estate is irreplaceable. We saw strong demand for this center and closed right at our guidance.”