Firm Overview Listings Shopping Centers Single-Tenant 1301 Exchanges
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
   
Market Square

OFFERING SUMMARY

Market Square is a community-oriented shopping center located in Spartanburg, South Carolina. The property contains 209,283 square feet and is anchored by Burlington Coat Factory Harbor Freight Tools.

SUBMARKET OVERVIEW

The shopping center is located a half mile east of I-26 on W.O. Ezell Boulevard (Hwy 29) and approximately 3 miles south of I-85, giving it easy access to the entire Spartanburg metro. Spartanburg is located in the Upstate region of South Carolina in the foothills of the Blue Ridge Mountains. The city of 40,000, which is part of a metropolitan area of 250,000, is conveniently situated at the junction of I-26 and I-85. The traffic counts for the area are: 27,700 VPD on WO Ezell Boulevard, and 55,300 VPD on Interstate 26.

 

DEMOGRAPHICS
   
  1-Mile 3-Mile 5-Mile  
2009 Estimate 6,335 45,693 84,705  
2014 Projection 6,371 47,066 87,703  
2009 Average Household Income $46,631 $45,637 $48,477  
200 Median Household Income $39,713 $33,478 $35,241  
OFFERING MEMORANDUM & FILES
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Profiles
Size: 209,283 SF
Market: Spartanburg, South Carolina
Year Delivered: 1989
Land Size: 20.377 Acres
Leasing Status: 74%
Debt: Free and Clear
Parking Spaces: 929 spaces
Roof: Brand new building and roof over Burlington Coat factory; all the others are original.
Anchor Tenants: Burlington Coat Factory, Tuesday Morning, Harbor Freight Tools
   
Anchor Tenants Lease Expiration Square Feet
Burlington Coat Factory Jan 2019 102,535
Harbor Freight Tools July 2015 18,040
   
NET OPERATING INCOME $1,439,395
   
CAP RATE -
   
OFFERING PRICE Unpriced
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