DEALS

Deals

Statesboro Square – Statesboro, GA

THE OPPORTUNITY

  • Strong tenant retention with recent extensions by Big Lots and Buddy’s Home Furnishings
  • Strong traffic counts with 23,700 VPD on Northside Dr E
  • Great synergy within the submarket with Statesboro Mall, Statesboro Crossing, Walmart, Dick’s, Lowe’s, several hotels and multiple restaurants neighboring the subject property.
  • 83% of GLA is made up of discount retailers
  • Strong historical occupancies at Statesboro Square at over 97% the past then years

THE HIGHLIGHTS

  • In recent years Statesboro’s employment has grown at a rate of 2.35% annually
  • Statesboro has seen over a 30% population growth since 2000
  • Located just off the dominant intersection in the market, Veteran’s Memorial Pkwy and Northside Dr E
  • Statesboro is the home of Georgia Southern University, 26,054 students and 7,311 employ

THE DEAL POINTS

  • Square Feet: 41,000 SF
  • Asking Cap Rate: 8.61%
  • Asking Price: 2,600,000
  • Year Built: 1986
  • Occupancy: 97.6%
  • NOI: $223,880

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