OFFERING SUMMARY MCALPIN SQUARE Savannah, Chatham County, Georgia Diverse anchor lineup led by strong performing Kroger 87% of GLA occupied by national/regional tenants Infill location in Savannah at Parkway Interchange Below market anchor and shop rental rates creates value add opportunity
Offering Highlights OFFERING HIGHLIGHTS High Quality Multi-Anchor Retail Center Top tier community shopping center for Savannah based on anchor line-up and location Dynamic Savannah MSA Ideal market for long term ownership of High Quality Retail Diverse economy Projections for strong economic and population growth Cushman & Wakefield Retail Investment Advisors is pleased to offer for sale, a Kroger-anchored community shopping center located in Savannah, Georgia. Completed in 1980, the center totals 173,952 sf and is currently 97% leased to a high-quality line-up with national/regional tenants representing 87% of the GLA. This offering represents the unique opportunity to acquire a Kroger anchored community shopping center with a long and successful operating history and prime infill location within Savannah. PROPERTY SUMMARY Location 1900 East Victory Drive, Savannah, GA 31404 Year Built 1980 GLA 173,952 Occupancy 97% Attractive Demographics (3-mile radius) 82,196 50,925 $55,488 Residents Prime Location Daytime Employment Avg. Household Income 29,400 VPD at intersection + 35,200 VPD along adjacent Parkway Located at Harry Truman Parkway interchange Proximate to historic district, medical arts district and Savannah State University Strong Tenant Roster with Seasoning Led by high volume Kroger with fueling station Diverse anchor mix includes Big Lots, Goodwill, US Post Office, Family Dollar & Rainbow 76% of GLA occupied by tenants with +10 years of tenure Anchors 3 Attractive Income Stream 10 year CAGR = 3.50% Anchor base rents average just $6.84 psf Pricing below replacement cost High barrier to entry trade area
Location Highlights DYNAMIC SAVANNAH MSA Ideal market for long term ownership of high-quality retail Diverse and healthy economy led by tourism, health care, military and the port Projections for strong economic and population growth INFILL LOCATION Major intersection 29,400 VPD Located at Harry Truman Parkway interchange Strong nearby retail co-tenancy - Target, Home Depot, Whole Foods, PetSmart Proximate to historic district, medical arts district, & Savannah State University STRONG DEMOS 3-MILE RADIUS 82,196 residents $55,488 avg. HH income 50,925 daytime employment
Tenancy Highlights TENANCY MAJOR TENANTS SF % OF GLA 43,600 25.1% 30,475 17.5% 19,920 11.5% Tenancy Highlights Diverse anchor lineup led by Kroger, Big Lots, Goodwill, US Post Office, Family Dollar and Rainbow 87% of the GLA occupied by national/regional tenants Seasoned tenant roster 76% of the GLA occupied by tenants with +10 years of tenure Offering includes valuable Wells Fargo outparcel Kroger is highly profitable based on strong sales and low occupancy costs; operates fueling station on site 18,800 10.8% 8,005 4.6% 8,000 4.6% Total Major Tenants 128,800 74.0% SHOP TENANTS National (8)* 18,802 10.8% NATIONAL VS. LOCAL TENANCY BASED ON GLA NATIONAL 87.3% LOCAL 9.43% AVAILABLE 3.27% Local (7) 16,400 9.4% Available 5,688 3.3% Total Shop Tenants 40,890 23.5% OUTPARCELS Wells Fargo 4,262 2.5% Total Owned GLA 173,952 100% *National tenants include Rent-A-Center, City Gear, American Deli, GameStop, Jackson Hewitt, Metro PCS, Subway and Domino s
For more information, please contact: MARK GILBERT Executive Managing Director (305) 533 2866 mark.gilbert@cushwake.com ADAM FEINSTEIN Executive Director (305) 533 2863 adam.feinstein@cushwake.com FAIN HICKS Senior Director (404) 682-3387 fain.hicks@cushwake.com MITCHELL HALPERN Associate (305) 533 2855 mitchell.halpern@cushwake.com LANE BREEDLOVE Financial Analyst (404) 682-3421 lane.breedlove@cushwake.com The depiction in the included photograph of any person, entity, sign, logo or property, other than Cushman & Wakefield s (C&W) client and the property offered by C&W, is incidental only, and is not intended to connote any affiliation, connection, association, sponsorship or approval by or between that which is incidentally depicted and C&W or its client. This listing shall not be deemed an offer to lease, sublease or sell such property; and, in the event of any transaction for such property, no commission shall be earned by or payable to any cooperating broker except if otherwise provided pursuant to the express terms, rates and conditions of C&W s agreement with its principal, if, as and when such commission (if any) is actually received from such principal. (A copy of the rates and conditions referred to above with respect to this property is available upon request.)