Archive for Augusta

Jul
21

Outlet Mall of Georgia at Augusta to Break Ground in December

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The long awaited date for when work will begin on The Outlet Mall of Georgia at Augusta has been set. Ben Carter Enterprises announced it will break ground on the 70 acre shopping center in December. The outlet mall will be next to Cabela’s and Costco and it’s scheduled to open in the spring of 2016.

The announcement came after the company reached an agreement with the owners of Georgia Theater Company, who agreed to reposition a 14-screen complex with a full service restaurant to accommodate the outlet mall.

“They said we’ll break ground once we hit a certain percentage of leases in hand,” said Walter Sprouse, Executive Director of Augusta Economic Development Authority.

The fashion mall will include top tier retailers that will put people to work. Sprouse said, “Somewhere in excess of a thousand jobs. We’re talking about 800 thousand sq ft of retail space, which is bigger than some towns.”

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Apr
04

Augusta Shopping Center Sold

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Ownership of the Daniel Village shopping center is now in local hands. Blanchard & Calhoun Commercial purchased the Augusta center at 2803 Wrightsboro Road last week from New York-based Equity One.

Though terms of the deal were not disclosed, Equity One received 10 offers on the 16-acre property, according to the Cassidy Turley firm, which facilitated the sale for Equity One. Messages left for Blanchard & Calhoun representatives were not immediately returned.

“Having local management allows us to be more responsive to potential tenants and to utilize our knowledge of the dynamics of the local real estate market,” Blanchard & Calhoun Vice President John Mills said in a company statement.

There is about 180,000 square feet of retail space within the commercial development, which is anchored by a Bi-Lo grocery store and Rite Aid pharmacy.

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Dec
13

Publix Anchored N. Augusta Plaza Sold

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Slate U.S. Opportunity (No. 3) Realty Trust has announced the acquisition of  North Augusta Plaza, a 254,718 SF retail center located in North Augusta, South Carolina. The Center is anchored by Publix, Big Kmart, and Hamrick’s. A press release reported the price as $19 million ($75/SF).

The center was reportedly purchased at an approximate 8.8% going-in cap rate. The 254,718 square foot property is 92% occupied.

Rob Carter, Alex Quarrier, and David Webb of Berkeley Capital Advisors arranged the transaction.

Categories : Aiken, Augusta
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Sep
09

New Apartments Planned for Augusta

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Construction on a mixed-use project, anchored by an upscale apartment community, is scheduled to begin in early 2014 on Walton Way Extension next to Interstate 20.

Blanchard and Calhoun Commercial got the green light Wednesday from Augusta planning commissioners to move forward with plans to develop a gated “Class A” apartment community that will include a clubhouse, pool and walking trails within a 54-acre tract right off the I-20 interchange on Walton Way extension.

The apartment complex, called Grand Oaks at Crane Creek, likely will consist of between 240 and 330 units, said Blanchard and Calhoun Commercial President Mark Senn.

The Augusta real estate firm was requesting to incorporate six parcels, or about 25 acres, behind 45 acres off Walton Way Extension that had already been designated for the multifamily development.

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Jun
27

We are Appraising in Augusta/Aiken

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My appraisal firm, Integra Realty Resources – SC, has been doing a lot of commercial appraisal work in the Augusta, GA and Aiken, SC markets recently. If we can assist with your appraisal needs in that region, please let me know. As always, we work statewide, with emphasis on Columbia, Greenville, Charleston, Florence, Anderson and the Hilton Head/Bluffton regions.

Michael Dodds, MAI, CCIM

Categories : Aiken, Augusta, INTEGRA NEWS
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Jun
25

Augusta Firm Focusing on Malls

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Buying unprofitable shopping malls after banks or owners have given up is where an Augusta-based commercial real estate firm is growing its portfolio.

Hull Storey Gibson Companies LLC recently bought its 20th enclosed shopping mall, Village Mall in Auburn, Ala. This was the third mall they have acquired in 2012, bringing their total retail square footage to nearly 13 million, and partner John Gibson said they will continue to pick up properties that are deals with good potential.

“Lenders are starting to capitulate to market forces and are selling properties,” he said. “We’re buying at a good and fair price properties who need only one thing, a good owner with good management.”

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Jan
16

Augusta’s The Groves Apartments Sold

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QR Capital, LLC has acquired The Groves Apartments, a 132-unit apartment community situated on 11.5 acres in North Augusta. Built in 1977, The Groves Apartments consists of 19 two-story residential buildings. QR Capital plans to complete approximately $600,000 in renovations in 2012. Meridian Management Group is the on-site property manager. Robert Stickel of Southeast Apartment Partners brokered the transaction and BB&T provided financing on the deal.

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Jul
07

Augusta, GA Costco Construction Underway

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Dallas-based The MGHerring Group has broken ground on a new 142,000-square-foot Costco at the Village at Riverwatch, a shopping center under development at the intersection of Interstate 20 and River Watch Parkway in Augusta. The store will anchor the first phase of the center and is set to open in late 2011.

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Feb
21

Rental Demand Rises…….for Homes During Masters Week

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– The Augusta Chronicle

A professional golfer once rented Janna Crane’s home during Masters Week. Another year, a crew from ESPN booked it. Sometimes guests leave a bottle of wine as a thank-you gift.

Janna Crane’s home in the Watervale neighborhood in Martinez. She is renting her home for Masters Week.

“I’ve never had one single problem,” said Crane, the owner of a 2,800-square-foot Cape Cod home in Martinez’s Watervale subdivision,

Crane has rented her for home for Masters Week for 10 years. Her family vacations on the Florida coast during the tournament.

“Honestly, we started doing this because the money was good,” she said.

Her house typically earns $3,000 to $5,000 a year, and she and her husband use the proceeds for home improvement projects. This year, they hope to add an outside fire pit.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

Categories : Aiken, Augusta
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Dec
23

Long-Term Acute Care Hospital in Augusta Sold As Part of Portfolio

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Healthcare Trust of America (HTA) has acquired four long-term acute care hospitals (LTACH) in Georgia, Florida and Texas for $102 million. Each property is leased to and operated by Select Medical Corp. The assets include Select Augusta LTACH, a 71,900-square-foot, 80-bed facility in Augusta; Select Orlando LTACH, a 48,598-square-foot facility in Edgewood; Select Tallahassee LTACH, a 46,682-square-foot, 29-bed facility in Tallahassee; and Select Dallas LTACH, a 50,530-square-foot, 60-bed facility in Carrollton. Additional terms of the transaction were not released.
Categories : Augusta
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Sep
10

Self Storage Facility in Augusta Sold

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Dale C. Eisenman, CCIM of Midcoast Properties, Inc. represented the seller, in the sale to a private investor of Augusta Self Storage located in Augusta, Georgia. Augusta Self Storage is a largely traditional self storage facility with an onsite apartment featuring 240 non-climate units totaling approximately 27,500 square feet. The property offers additional onsite expansion with a total of over 4 acres.


Augusta Self Storage is a well established facility having opened in 1978 and is located near the famous Augusta National Golf Course.
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