Riverside Crossing Shopping Center

Riverside Crossing Shopping Center

850 E Suber Rd.
Greer, SC

Price: $12,600,000
Cap: 7.00%
NOI: $881,610
Building Size: 58,358 SF
Lot Size: 8.84 AC

Investment Highlights

GROCERY ANCHORED CENTER
• Riverside Crossing is a 58,358 SF Grocery-Anchored shopping center located in the Greenville, SC MSA built in 2016.
• Anchor Tenant, Lowes Foods has been operating Grocery Stores in the Carolinas for 65 Years; this location is the first one to open Greenville County.
• Alex Lee Inc, Parent Company of Lowes and lease guarantor, is on the Forbes list of “America’s Largest Private Companies.”
• Lowes Foods has 18 Years remaining on their lease.
• The Lowes Foods is the closest grocery store to BMW Manufacturing Plant & Greenville-Spartanburg International Airport.

ATTRACTIVE DEMOGRAPHICS
• 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 the 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.

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%

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, Fluor, Hubbell Lighting, Bank of America, TD Bank, BB&T, Windstream and more.

Zach Taylor
OFFERING MEMORANDUM

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