AMERICAN SPINNING MILL SITE INFORMATION. Nick Hollstegge Associate Industrial

Transcription

1 AMERICAN SPINNING MILL SITE INFORMATION Nick Hollstegge Associate Industrial

2 AMERICAN SPINNING MILL EXECUTIVE SUMMARY The American Spinning Mill is located within the Poinsett District two miles from the heart of Downtown Greenville in between Poinsett Highway and Pete Hollis Boulevard. Originally a textile mill built in 1903, its historical significance and architecture, along with a close proximity to downtown, pose a unique opportunity to transform the property into a multifamily or mixeduse redevelopment. Over the past twenty years, Greenville s downtown has experienced a renaissance. Main reet and surrounding in-fill neighborhoods have seen a significant influx of new residents. Demand for quality rental product has risen while supply has remained stagnant. As a result, rents have climbed consistently leaving prospective tenants with a very limited number of options at a premium price. Developments such as McBee ation and The Lofts of Greenville have experienced great success as both are at full occupancy or very close to it with rents still on the upswing. Timing for the Mill s redevelopment is ideal with the city s need for new and unique multifamily product and the Poinsett District s ongoing revitalization. The Greenville County Redevelopment Authority (GCRA) has invested heavily in the area with the purchase and clearing of the Piedmont Shirt Factory with plans to develop the mixed-use Forge project there. The GCRA is also developing a new public park at the former Poe Mill. This 11-acre site is less than 200 yards from American Spinning. Combining this progress with the City of Greenville s purchase and redevelopment of the Green Plaza retail center on Pete Hollis Boulevard exhibits a distinct vision to transform the area. In addition to continual area improvement and apartment demand, the utilization of federal and state tax incentives such as the Textile Communities Revitalization Credit and Federal/ate Historic Credits make the American Spinning Mill one of the most attractive redevelopment sites in the state. Nick Hollstegge Associate

3 PROPERTY HIGHLIGHTS ADDRESS 300 Hammett reet, Greenville, SC COUNTY Greenville TAX MAP ID SIZE ± 365,385 SF PROPERTY SIZE ±12.77 acres SALE PRICE $3,000,000 ZONING I-1, S-1, Greenville County CLOSEST COMMERCIAL AIRPORT Greenville-Spartanburg International Airport (±20 minutes) CLOSEST INTERSTATE I-385 (±8 minutes) UTILITIES WATER SERVICE PROVIDER NATURAL GAS PROVIDER SEWER SERVICE PROVIDER ELECTRICITY PROVIDER TELECOM PROVIDER On Site : Greenville Water Adjacent : Piedmont Natural Gas Adjacent: Rewa Duke Energy AT&T POTENTIAL INCENTIVES New Market Tax Credits South Carolina Textile Communities Revitalization Credit EB-5 Funding Federal Historic Preservation Tax Incentive HUD Section 108 Loan Guarantee Program DHEC Brownfi elds Program

4 AMERICAN SPINNING MILL Original Oak Floors Exposed Brick Ceiling Heights of 14.5 to 17.5 Building A ±294,510 SF Main Building

5 Building B ±30,275 SF Building C ±40,600 SF Possible tear down for additional parking

6 AMERICAN SPINNING MILL Lofts of Greenville 190 Units 2006 Construction 100% Occupied $1.18/SF Effective Rent/Mo. 100 East 55 Units 2013 Construction 100% Occupied $1.52/SF Effective Rent/Mo. The Aventinee 346 Units adium Apts 100 Units Rivers Edge Under Construction 146 Units Scott Towers Under Construction 259 Units 400 Rhett reet Under Construction $1.35-$1.75 PSF Effective Rent/Mo. 150 Units Multi-Family Development or Under Construction one at Main 218 Units 121 Rhett reett 98 Units one at Rowley 51 Units Broadstone Gateway 257 Units 98 E McBee Under Construction 55 Units Church at University 348 Units McBee ation 197 Units 2007 Construction 100% Occupied $1.45/SF Effective Rent/Mo. N half-mile

7 Waffle House Olive Garden ax s Original al Home Depot arbucks Petco Cherrydale Point C Cookout Sakura Compadre s Com Co C om om Mojo s Zaxby s y ss UPS U PS P S ore Verizon Wireless Drive Times Downtown Greenville - 8 min (1.9 mi) Cherrydale Point - 4 min (1.2 mi) Cherrydale Point Poinsett Hwy Ingles Regal Cinemas Chick-fil-a Ruby Tuesday s Old Navy TJ Maxx Ross Rush Fitness GNC Bath & Body Works Shoe Carnival Flat Rock Grille Atlanta Bread Co. Five Guys Sprint Duke Sandwich Co. GCRA Poinsett Redevelopment District rd Rd Parker at Cone te Pe Main Ru the rfo Poe Mill Park Revelopment Poinsett District Revitalization Zone llis Ho Lofts of Greenville North Main District Ha m pt on Bl vd vd Bl W ad e Earle reet one Ave City of Greenville s Green Plaza Redevelopment Hardee s McDonald s M c Beach Co. Mixed Use Development Ru Main Heritage Hampton Pinckney rd Rd Aca d rfo Sip Rooftop Bar Verizon Wireless Rare eakhouse Sassafras Trio Ristorante Bergamo emy the Piazza Bergamo East Park DOWNTOWN GREENVILLE Overbrook NOMA Square Liberty Square Piazza Pia a Bergamo Bon Secours Wellness Arena The One Building E North Pettigru g Histori Wild Wing Cafe The One Building NOMA Square Courtyard Marriott Peace Center nterr nte KROC Center Hampton Suites Inn nn & S American Grocery West End Mac s Speedshop Liberty Taproom Fluor Field eld eld d Soby s S So ob oby o b by Grill Gr G rill Marks Nantucket Chu Nose Dive rch Carolina Ale House Anthropologie Brooks Brothers Tupelo Honey Cafe Aloft Hotel (coming soon) CertusBank aples Publix Hyatt Roost Kilwins Oil & Vinegar Larkins on the River F Falls Park Smoke On The Water Mellow M eellow o Mushroom Velo Fellow N 1,000 ft

8 FOR MORE INFORMATION PLEASE CONTACT: Nick Hollstegge Associate Industrial CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are property of their respective owners and use of these images without the express written consent of the owner is prohibited.