Emerald Place

Emerald Place

259 Hospitality Boulevard
Greenwood, SC

Price: $10,180,000
Cap: 8.00%
NOI: $706,250
Building Size: 107,606 SF
Lot Size: 12.23 AC

Investment Highlights

STRONG NATIONAL TENANT LINEUP (94%)

• INVESTMENT GRADE ANCHOR TENANT |14 YEARS REMAINING ON LEASE | BELOW MARKET RENT

• POTENTIAL PARCELLATION PLAY | KOHLS HAS SEPARATE TAX PARCEL

• STRONG LEASING MOMENTUM | 1 NEW TENANT & 1 EARLY RENEWAL IN 2019

• STRATEGIC HIGH TRAFFIC LOCATION IN THE HEART OF MAIN RETAIL CORRIDOR (24,700 VPD)

• REGIONAL TRADE AREA (40 MILES)

EMERALD PLACE SUMMARY
• Emerald Place is a 107,616 Regional Power center located in Greenwood, SC.
• 94% of the center is leased to National brands including Ross, Kohl’s, Rack Room Shoes, PetsMart & more.
• The subject property has strong leasing momentum | PetsMart has shown commitment to the center by signing an early renewal adding 5 years to the end of their current term & Rack Room Shoes recently signed a lease to expand their space and relocate from the outparcel in front of the center
• Kohl’s low rent at $2.70 PSF and long lease term (14 Years Remaining with Six (6), 5-Year Options) create stability for Anchor Tenant and Significant Future Upside.
• Emerald Place offers an investor the opportunity to acquire a brand new class A regional shopping center with national tenants on long term leases in an already flourished & growing South Carolina market.

STRATEGIC LOCATION | REGIONAL TRADE AREA
• Emerald Place is positioned in the Heart of the Main Retail Corridor in Greenwood (24,700 VPD)
• Over 2M SF of surrounding retail in a 1 mile radius | Surrounding Retailer’s Include: Walmart, Publix, Lowe’s, Hobby Lobby, Greenwood Regional Mall, and many more.
• This Regional Power Center and corridor services a 40 mile trade area with the nearest competition over an hour away
• The center is also ideally situated 4 minutes from Lander University (3,000+ Students) and draws heavy foot traffic from the school.

GREENWOOD, SC
• The city of Greenwood is the county seat of Greenwood county & Greenwood MSA with a population of 94,770 according to most recent consensus
• Greenwood county serves as a hub for a seven county region and is known for its numerous lakes, attractions, and state recreation areas that draw visitors from all around
• Greenwood county boasts a long and historic stable economy driven by its multinational industrial sector that provides over 12,000 jobs per year. Major employers include: Self Regional Healthcare, Greenwood Mills, Inc., Eaton Corporation, and Fujifilm who chose Greenwood in 1988 as the site of its $64 Million manufacturing facility.

Zach Taylor

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