Overview
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of a Multi-Tenant Strip Center in Simpsonville, SC. This 8,050 SF building is a 100% occupied by three tenants: McAlister’s Deli, Another Broken Egg, and Chop Barbershop. The asset is well positioned in a high growth submarket of the Greenville, SC MSA and is surrounded by millions of SF of industrial, retail, and multi-family.
Situated at 234 Harrison Bridge Rd, the 8,050 square foot building has recently signed 3 leases. There is 12 years of WALT and rent escalations during the base term and option periods
Investment Highlights
Attractive Lease Fundamentals
- Each tenant has rental increases through out the base term and option periods
- Each lease is structured NNN, providing minimal landlord responsibility
- Each Tenant is either corporate or backed by a healthy franchisee
Strong Brand Name Tenant Mix
- The center includes McAlister’s Deli (588 locations), Another Broken Egg (80 locations), and CHOP Barber Shop (10 locations)
High Growth Submarket of Greenville MSA
- 4.4% annual growth rate in a 1-mile radius
- AHHI exceeds $103K in a one mile radius
- Over 600 new apartment units delivered in the pats 2 years (2,369 total units in a 2.5 mile radius)
Excellent Exposure on Concentrated Retail Corridor
- Outparcel of Covey Homes Harrison Bridge (112 units)
- Located on a corner of a lighted intersection of Harrison Bridge Rd (22.3K VPD) and Grandview Dr (12K VPD)
- Less than 0.3 miles to I-385 (58.9K VPD)
- Over 1.6MSF of retail space within a 1-mile radius
New Construction
- Newer construction should limit a new owner’s exposure to capital repairs during the hold period
- Transferable warranties in place
Close Proximity to Major Industrial Employers
- ~0.5 miles to Kyocera Electronic Devices Manufacturing Plant
- ~1.3 Miles to Grainger’s ~1MSF distribution center
- Over 2.4MSF of industrial space in a 1-mile radius
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Sales Team
