NEW CONSTRUCTION GROCERY OUTPARCEL • The Property is a new construction Three Tenant strip center leased to national tenants and located as an outparcel to a new grocery anchored Center in the Greenville, SC MSA. • The Property completed construction in June and has been delivered to tenants. • Class A construction features attractive cultured stone and brick exterior.
LONG TERM LEASES WITH INCREASES • Orange Theory has a Ten (10) Year Lease with 2% annual increases • Orange Theory has Two (2) Option periods of Five (5) years each with 2% annual increases • Greenfields Bagels has a Ten (10) Year Lease with a 7.6% rent increase in Year 6 • Greenfields Bagels has Two (2) Option periods of Five (5) years each with rental increases • Stevenson Tax & Accounting has a Five (5) year lease with $0.50 PSF Annual Increases • Stevenson Tax & Accounting has a Two (2) Option Periods with $0.50 PSF Annual Increases
STRATEGIC LOCATION • The subject property is located in the heart of a dense suburban market adjacent to Riverside High School (1,800 Students, 127 Faculty). • The Asset is situated at the corner of a major intersection of E Suber Road (State Route 540) and Hammett Bridge Road (State Route 94). • New Residential developments surrounding the center including 500+ new homes. • Greer City Council recently approved zoning to develop 130 residential homes within a mile radius of the property. • Subject Property is located 5 Miles (12 minutes) from Greenville-Spartanburg International Airport, 6 Miles (15 Minutes) from BMW Manufacturing Plant.
GREENVILLE MSA • The city of Greenville is the largest city and the county seat of Greenville County, South Carolina. • Greenville is the largest and fastest growing MSA in South Carolina with a population of more than 885,000 and the Greenville-Spartanburg-Anderson Combined Statistical Area (The Upstate) is the largest statistical area in the state, home to more than 1.4 million residents. • Greenville maintains one of the strongest local economies in the southeast and is driven by financial institutions, the automotive industry, healthcare, and pharmaceuticals and maintains an S&P AAA bond rating. • Major employers in the area include BMW Manufacturing Corp., Spartanburg Regional Healthcare System, Michelin North America, and more.