Olde Towne at Berwick

Olde Towne at Berwick

50 Berwick Blvd.
Savannah, GA

Price: $7,680,000
Cap: 6.50%
NOI: $499,094
Building Size: 29,254 SF
Lot Size: 4.43 AC

Investment Highlights

OLDE TOWNE AT BERWICK
• The subject property is a 29,254 unanchored retail offering in Savannah, GA
• Property is stabilized at 100% occupancy
• This investment offers a unique mix of restaurants, service tenants, medical tenants, and national brands
• Property lies adjacent to a high performing Kroger
• Leasing Momentum | 2 New Leases & 4 new renewals since 2020
• This asset features upgraded construction with an attractive modern facade & new paint

ADJACENT TO HIGH PERFORMING KROGER
• The property sits next to a High-Volume Kroger servicing the greater Savannah area and generates an immense amount of foot traffic to
 the center
• With 1.3 Annual Visits, this Kroger ranks in the top 3% (3/79) in total visits of all Grocery Stores in a 50-Mile Radius
• Within the chain, Kroger ranks in the top 10% of stores locally & in GA and top 17% nationally
• This Kroger draws from a 10-mile trade area

STRATEGIC LOCATION
• Property is positioned just off US-17 (28,200 VPD), the major interstate connecting the Berwick submarket into the heart of Savannah
• Property is nestled in a densely populated submarket of Savannah with limited competition
• Located at an intercept position in the path of growth of the Pooler Parkway corridor, the most desired & affluent suburb of Savannah
• One of the only shopping centers that services a 3-Mile trade area of 19,288 households

SUPERIOR DEMOGRAPHICS
• 5-Mile Population: 118,018
• 5-Mile Avg. HHI: $70,000

SAVANNAH, GA
• The subject property is in the Berwick Submarket, just 5 miles from downtown Savannah.
• Savannah is Georgia’s fifth-largest city with an estimated population of 146,444 and the third largest MSA with 387,543
• The Port of Savannah is the second largest U.S. seaport on the east coast and creates 350,000 jobs and does over $66 billion in annual sales
• Savannah is the oldest city and the top tourist destination in Georgia with over 12.1 million tourists annually.
• Home to Hunter Army Airfield which services Fort Stewart (11,205 Military Personnel) and Savannah College of Art & Design (13,000 students) and Georgia Southern University-Armstrong Campus (5,278 students).
• Savannah is the county seat of Chatham County

 

Zach Taylor
Eric Abbott
OFFERING MEMORANDUM

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