Investment Portfolio

Grove Park Shopping Center

A BI-LO anchored community shopping center containing 106,557 square feet of rentable space on 9.6 acres. Constructed in 1987 and expanded in 1991.

Intrinsic Value

Purchase price below replacement cost.

Property Fundamentals

Completely vacant rear lower-level provides an opportunity to increase income through additional leasing. All vacancy at the center is derived from the lower-level space facing the rear of the property. This space is suitable for a variety of uses including destination retail, office/flex, medical and restaurant. According to the former leasing agent, little effort has been made to replace the tenants that have vacated this space in recent two years. Recent tenants include a tavern (4,890 sf), a physical therapy facility (6,000 sf) and a printing business (2,800 sf).

Market Fundamentals

Market Growth – Orangeburg is expected to experience sustained growth due, in part, to numerous corporate relocations to the area and the continued expansion of the Charleston market as a key port.