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Shopping Strip

Garners Ferry Crossing

7546 Garners Ferry Rd, Columbia, SC 29209

Listing Price: $8,150,000

Cap Rate
7.25%
Gross SF
45,270
Rentable SF
45,270
Price/Gross SF
$180.03
Lot Size
4.72 acres
Year Built
2004

Investment Overview

100% leased 45,270 square feet Garners Ferry Crossing shopping center is shadow anchored by Walmart Supercenter in Columbia, South Carolina. New lease and lease extension from four of the tenants, tenure of over 15 years for majority of the tenants, 70% of the center in occupancy by national and regional tenants, increasing store sales, population and economic growth in the area, higher than average US household income, synergized tenant mix, Walmart draw, high traffic count make for a great long-term investment. The grass area in the middle of the center is under discussion for land lease by a 186-unit strong operator. Regional Finance Corporation of South Carolina has signed a new five-year lease with rent escalation. Great Clips and JD’s Fashion extend their term for three and five years respectively. New developments are happening around that area in that Starbuck’s, the coffee giant continues to make moves in the Midlands: There are new locations under construction at Ferry Road (Outparcel to the center) and on Longs Pond Road near Interstate 20 in Lexington. Nearly 200 new hotel rooms are planned for a busy strip of Sunset Boulevard in West Columbia that has been a development hotspot in recent years. Recent grant of $3.2M by U.S Dept of Commerce for construction of two miles of trail of the Lower Saluda Greenway and related infrastructure, boosting the tourism economy in the region.

Investment Highlights

  • Fully leased Columbia, SC center shadow anchored by Walmart Supercenter
  • Increasing store sales, in-built rent increases, low Shoe Show rent
  • New five-year lease with Regional Finance Corp of SC starting from Aug 2022 with annual rent escalation
  • 70% of the center is occupied by National and Regional tenants / "BBB Stable" credit rated Dollar Tree With 2(5-Year) Options With Increases
  • Great visibility from Garners Ferry Road (U.S. 76/378) with an average traffic count of 40,000 vehicles per day
  • Close proximity to Fort Jackson Military Training Center with over 23,000 residents and 7,600 full-time employees
  • Over $1.1 Billion active development projects in the City / County, encompass a wide variety of regional development opportunities
  • Job growth in Columbia is expected to be 27.4% over the next 10 years, while unemployment is down to 2.5% (as of April 2022)

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Financing By

Shopping Strip

Garners Ferry Crossing

Listing Price: $8,150,000

Cap Rate
7.25%
Gross SF
45,270
Rentable SF
45,270
Price/Gross SF
$180.03
Lot Size
4.72 acres
Year Built
2004

Investment Highlights

  • Fully leased Columbia, SC center shadow anchored by Walmart Supercenter
  • Increasing store sales, in-built rent increases, low Shoe Show rent
  • New five-year lease with Regional Finance Corp of SC starting from Aug 2022 with annual rent escalation
  • 70% of the center is occupied by National and Regional tenants / "BBB Stable" credit rated Dollar Tree With 2(5-Year) Options With Increases
  • Great visibility from Garners Ferry Road (U.S. 76/378) with an average traffic count of 40,000 vehicles per day
  • Close proximity to Fort Jackson Military Training Center with over 23,000 residents and 7,600 full-time employees
  • Over $1.1 Billion active development projects in the City / County, encompass a wide variety of regional development opportunities
  • Job growth in Columbia is expected to be 27.4% over the next 10 years, while unemployment is down to 2.5% (as of April 2022)

Investment Overview

100% leased 45,270 square feet Garners Ferry Crossing shopping center is shadow anchored by Walmart Supercenter in Columbia, South Carolina. New lease and lease extension from four of the tenants, tenure of over 15 years for majority of the tenants, 70% of the center in occupancy by national and regional tenants, increasing store sales, population and economic growth in the area, higher than average US household income, synergized tenant mix, Walmart draw, high traffic count make for a great long-term investment. The grass area in the middle of the center is under discussion for land lease by a 186-unit strong operator. Regional Finance Corporation of South Carolina has signed a new five-year lease with rent escalation. Great Clips and JD’s Fashion extend their term for three and five years respectively. New developments are happening around that area in that Starbuck’s, the coffee giant continues to make moves in the Midlands: There are new locations under construction at Ferry Road (Outparcel to the center) and on Longs Pond Road near Interstate 20 in Lexington. Nearly 200 new hotel rooms are planned for a busy strip of Sunset Boulevard in West Columbia that has been a development hotspot in recent years. Recent grant of $3.2M by U.S Dept of Commerce for construction of two miles of trail of the Lower Saluda Greenway and related infrastructure, boosting the tourism economy in the region.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

Financing By

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