Olde Towne at Berwick
Closed50 Berwick Blvd, Savannah, GA 31419
Property type
Retail
Price
$5,950,000
Building size
29,254 sf
Rentable area
29,254 SF
Year built
2007
Year renovated
Occupancy
91.18%
APN
1-1008-02-070
Zoning code
Lot size
4.43 Acres
Price per SF
$203.39
Property description
Franklin Street proudly presents Olde Towne at Berwick, a 29,543-SF retail strip center that is adjacent to a 70,000-SF Kroger grocery store. Olde Towne is located at the entrance of the 1,900 acre residential development known as Berwick Plantation which contains over 3,300 home sites. Built in 2007 and well maintained, the center has a strong mix of national and local service-oriented retail tenants. Anytime Fitness, State Farm and Marco's Pizza are some of the more familiar national brands that occupy the center. The center is well positioned in the community, shadow anchored by a strong performing Kroger with no other national grocer within 4 miles of the property. The property is surrounded by other national retailers including Starbucks, CVS, Wells Fargo, Subway, Pizza Hut, and Walgreens. There is significant upside for a new investor by leasing the remaining well located vacancies and increasing rents as leases roll over.
Property highlights
- 29,543-SF Kroger shadow anchored center in Savannah
- 91% leased with leasing upside
- Strong mix of national, regional & local tenants in Anytime Fitness, Marco's Pizza & State Farm
- Well-maintained center with no imminent deferred maintenance
- Savannah is home to the fastest growing ports in the country
- Located at the entrance of 1,900-acre residential development community of 3,300 homes
- $100,000+ Household Incomes surrounding site