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Rob Carter
704.379.1982 Office
704.379.1988 Fax
carter@berkeleycap.com
Alex Quarrier
704.714.2365 Office
704.379.1988 Fax
quarrier@berkeleycap.com
David Webb
7043791967 Office
7043791988 Fax
webb@berkeleycap.com
   
Pelham Hills

OFFERING SUMMARY

Pelham Hills is located east of downtown Greenville, SC on Pelham Road and approximately 3 miles northeast of the Greenville Downtown Airport. The Property is a brand-new construction that contains 24,834 square feet. Pelham Hills is easily accessible from Exit 54 on I-85 and is situated on Pelham Road, a major commercial artery in the area connecting I-385 and Pine Knoll Drive. The traffic count for Pelham Road is 23,200 cars per day. (Source: SCDOT 2006).

SUBMARKET OVERVIEW

Pelham Hills is located in Greenville County, one of the largest and fastest growing counties in South Carolina. The Property's submarket is northeastern Greenville, which is serviced primarily by the I-385 corridor and Woodruff and Pelham Roads.

East Greenville's economy is driven by the dense residential, growing surroundings and thriving Upstate economy. Greenville's economy is fueled by its strong manufacturing base and the BMW Manufacturing facility which employs over 4,500 people. As a result, Greenville attracts many like kind and ancillary companies wanting to position themselves near BMW.

 

DEMOGRAPHICS
   
  1-Mile 3-Mile 5-Mile  
2012 Projection: 3,546 46,595 114,715  
2007 Estimate: 3,311 42,670 104,786  
Growth 2007-2012: 7.10% 9.20% 9.48%  
Growth 2000-2007: 9.42% 16.43% 16.57%  
2007 Est. Average HH Income: $103,759 $93,895 $77,489  
OFFERING MEMORANDUM & FILES
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Profiles
  Map/Directions
Name: Pelham Hills
Size: 24,834 Square Feet
Market: Greenville, South Carolina
Year Delivered: 2008
Land Size: 2.34 Acres
Parking Spaces: 100 Spaces
Location: SW Corner of Pelham Road and East Beacon Drive
Leasing Status: 92% Occupied
Ground Lease: Pelham Hills is situation on a 50-year ground lease that is owned by Central Realty Corporation. Please Note: The underlying real estate is not included in the offering.
Option To Purchase: After the 5th lease year, Tenant shall have the option to purchase the Land for $2,066,000.
   
Anchor Tenants Lease Expiration Square Feet
Moe's Southwest Grill 10 years 2,400 SF
Sprint 3 years 1,584 SF
   
NET OPERATING INCOME $415,038
   
CAP RATE 0
   
OFFERING PRICE $5,350,000
©2006 Berkeley Capital Advisors - 831 East Morehead, Suite 650 // Charlotte, South Carolina 28202 // 704-379-1980
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