Deals
Commons at Magnolia – Florence, SC
THE OPPORTUNITY
- The Center has benefited from strong tenant retention
- Gross Leasable Area: 96,491 SF
- Large tract of land at 11.67 acres
- The Bed Bath & Beyond is the second busiest in the state of South Carolina
THE DEAL POINTS
- Square Feet: 96,491 SF
- Occupancy: 94%
- Asking Price: $10,590,000
- Asking Cap Rate: 9.75%
- Price PSF: $109.75/SF
THE HIGHLIGHTS
- Property is a Target shadow center located on the primary retail corridor within the Florence market
- Unrivaled location at the intersection of I-95 and I-20
- Strong traffic counts with 17,000 VPD on David H McLeod Blvd, 50,454 on I-95, and 30,495 on I-20
- Great synergy within the site with Magnolia Mall, Target, several hotels, and multiple restaurants.
- Over 1.1 million visits to the center per year from almost 400 thousand customers
- The Bed Bath & Beyond is the 2nd busiest Bed Bath & Beyond in the state of South Carolina