Lowes Foods Shadow Center

Lowes Foods Shadow Center

775 Hammett Bridge Road
Greer, SC

Price: $3,100,000
Cap: 7.00%
NOI: $216,819
Building Size: 9,100 SF
Lot Size: 1.49 AC

Investment Highlights

NEW CONSTRUCTION GROCERY OUTPARCEL
• The Property is a new construction Five 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 was completed and delivered to tenants in September of 2018.
• Class A construction features attractive cultured stone and brick exterior.

NEW CONSTRUCTION GROCERY OUTPARCEL
• Smoothie King - Ten (10) year lease with a 5% increase in year Six (6) & one (1) option period of five (5) Years with a 5% Increase.
• Great Clips - Five (5) year lease with 2% annual increases & two (2) consecutive option periods with 2% Annual Increases.
• Hand & Stone Massage & Spa - Ten (10) year lease with a 5% increase in year Six (6) & one (1) option period of five (5) Years with a 5% Increase.
• Whit’s Frozen Custard - Ten (10) year lease with a 5% increase in year Six (6) & two (2) consecutive option periods of five (5) Years each with a 5% Increase at the start of each period.
• Kustom Krust - Ten (10) year lease with a rent increase in year Six (6) & two (2) consecutive option periods of five (5) Years each with a 5% Increase at the start of each period.

AFFLUENT AND GROWING DEMOGRAPHICS
• Population: 1-Mile: 7,445 | 3-Mile: 48,963 | 5-Mile: 149,949
• Average Income: 1-Mile: $93,789 | 3-Mile: $84,630 | 5-Mile: $78,707
• Growth: 1-Mile: 18.07% | 3-Mile: 9.58% | 5-Mile: 6.03%

STRATEGIC LOCATION
• The subject property is located in the heart of a dense suburban market adjacent to Riverside Highschool (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.

Zach Taylor
OFFERING MEMORANDUM

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