A new store, a storage facility, a shopping center, and more. August was a fun month! Let’s see what we “fall” into in October!
2523 Tobacco Road | Travis Reed: Once under contract, this 24.3 acre property at the intersection of Tobacco and Windsor Spring Roads, adjoining Walmart Neighborhood Market and numerous other retail locations, took 1.5 years to close! Travis worked with Great Southern Homes to get this closed so they can start on their high-density residential project.
South Augusta Storage Facility | David Hogg: Listed on a Tuesday, Under Contract by Friday, and closed in less than 30 days! David Hogg represented the seller of this 78-unit self-storage facility in South Augusta.
3604 Wheeler Road | Matt Rogers: This 4,000 SF office space with more than seven private offices, a large conference room with a wet bar, a reception area, and a staff kitchen was divided into four units and sold in three separate transactions. Matt just sold the last two!
Lizard Thicket | Mark Pritchett: This Atlanta-based boutique has over twenty-eight stores in eight states. Mark is excited to bring their first Augusta store to Augusta Exchange!
Lakeview Commons | Jordan Collier + Brian Sweeting: Meybohm Commercial is pleased to announce it’s representation in the acquisition of a value add retail strip portfolio on behalf of a large regional investment group. This acquisition continues the firm’s broader strategy of acquiring underutilized and mismanaged properties in emerging high-growth markets. Sitting in one of the fastest growing sub-markets in the sunbelt, within their dense retail node at the intersection of Interstate 10 and Interstate 110, this portfolio is uniquely positioned to capture and build upon the market’s rapid expansion. Market position is further solidified by its close proximity to the Keesler Air Force Base, Ingalls Shipbuilding, and the largest Chevron refinery in the world. Despite high vacancy across the portfolio, Meybohm utilized their commercial relationships and functional expertise to increase leasing velocity and executing multiple new leases prior to close. In doing so, the investment group was able to select a debt product that created higher positive leverage and superior debt yields. Meybohm continues to work collectively with national and regional investment groups delivering differentiated opportunities and insights to navigate macroeconomic volatility and shifting demand drivers with a focus on risk mitigation and return enhancement.
With transactions all the way to Mississippi and a new team member, it’s been a fun and productive month! Congratulations to David Hogg on being named Chair of Piedmont Augusta Foundation!
DAVID HOGG NAMED CHAIR OF PIEDMONT AUGUSTA FOUNDATION
“Augusta is the place I call home. The place I was born (at University Hospital) and have raised my family, and the place I hope to retire in the future. I want to ensure that my family and other families in our community are able to enjoy the place that means so much to me. One way I contribute to our community is by being a part of organizations that make a difference in the place we all call home. One of my biggest involvements is being the Chair of Piedmont Augusta Foundation (formerly University Health Care Foundation) Board of Trustees. It is an honor and pleasure to work alongside the talented staff and other Board Members of the Foundation. During my time on the Board I have witnessed many amazing ventures taken on by the Foundation to ensure our community has access to quality and affordable healthcare. From renovating heart cath labs with more up-to-date equipment, to providing scholarships for nurses furthering their education, and everything in between, I am a proud supporter of Piedmont Augusta and the Foundation that it supports.”
NEW TEAM MEMBER: SELETA COLLINS
Seleta Collins will be joining our team after spending 7 years as the Marketing Coordinator at Chick-fil-A. She is a wife to Corey and a mom to two daughters – Chloe (13) and Stella (10). Seleta and her family reside in Columbia County and are members at TrueNorth Church. In her free time, she enjoys being active and watching her daughters play soccer! Seleta is joining the Meybohm Commercial Real Estate Team as the Transaction Manager.
736 East Robinson Avenue | Dean Newman: Working with EG Meybohm and Meybohm Development Group, Dean closed on one of our land parcels in the Grovetown area across from Gate 2 at Fort Gordon. The developers purchasing this site will develop a mixture of retail and townhouses on this vacant land parcel over the next few years.
Shoppes at Tara | Jordan Collier + Brian Sweeting: This multi-tenant investment grade retail strip center features a synergistic tenant lineup of national restaurants, medtail and a Starbucks and AT&T outparcel. Located in the rapidly growing Jonesboro benefiting from its proximity to Jackson Hartfield International Airport, Porsche Experience Center, and the Southern Regional Medical Center. The shopping center acquired at a price well below replacement costs, and projects to deliver above market cash yields.
1405 Marks Church Road | Dean Newman: Marks Baptist Church, a congregation located in Richmond County for over 100 years, is transitioning to Columbia County, where there is more growth and new opportunities for ministry. Augusta Chinese Christian Fellowship are the new owners. They have been renting in various locations in the past and this is the first property the church will own themselves.
Spring Valley Shopping Center | Jordan Collier + Brian Sweeting: Meybohm Commercial Properties has served as the exclusive advisor to a regional family office in the procurement of the 88K square feet retail center in Greensboro, NC. This asset presents unique yield growth for the purchaser with an existing anchor space occupied by Roses, and an additional 25K square foot inline vacancy. The underlying asset features recent heavy capital investments and is uniquely positioned in the pathway of growth.
A few shopping centers, acres, and businesses later, July has flown by! We’re looking forward to continued growth as the weather cools down and everyone gets back into the swing of things. Check back in August!
201 Main Street | Karen Daly: Exciting news for New Ellenton, SC! 201 Main Street South will be the newest location for SRP Federal Credit Union. Formerly a Hardee’s and then a Popeyes, this property sat vacant for several years and finally found its new purpose. Looking forward to seeing the familiar green and white sign in an ideal location as New Ellenton is a major gateway to the Savannah River Site and will bode well for its new and future members. Karen represented both Buyer and Seller and assisted in what appears to be a boost in activity in the New Ellenton market.
3109 Deans Bridge Road | David Hogg: David was pleased to sell this former Wells Fargo Bank branch to The Korean Association of Augusta. This building will be used to provide services to the Korean community in Augusta. Congratulations Mr. Kim and The Korean Association of Augusta on your new location at 3109 Deans Bridge Road in Augusta!
77 Acres @ Stephens Road | Travis Reed: This beautiful 125 acre tract of land is located just off of Highway 25 on Stephens Road near North Augusta, South Carolina. The property is covered with mature pine and hardwood timber and has some unique topography. There are two spring-fed ponds totaling roughly 10 acres that are overlooked by fifty-foot high bluffs; the perfect building site. The buyer was searching for property that would serve as a family compound where the parents and several of their children could build homes and have a buffer form the fast-growing North Augusta area. This property seems to have checked all of the boxes.
Whiskey/Powder House | The Finem Group: Rezoned by the city of Aiken to accommodate future use as a grocery store, The Finem Group was pleased to get this property closed with McKnight Property Group. 20.04 acres in total, the property is zoned UD allowing for a variety of potential uses. The property features great traffic at the signalized corner of Whiskey (23.4K VPD) and Powderhouse Roads.
Savannah Commons | Jordan Collier + Brian Sweeting: The Commons at Savannah Quarters is a 100% occupied multi-tenant investment-grade retail strip center. This 32,114 SF center is strategically located off Pooler Parkway (13.2K VPD) in Pooler, GA and has immediate access to Interstate 16. The Commons’ market position is elevated by being located within the dense premiere retail corridor of Savannah featuring the Tanger Outlets, Publix, Costco and many more national and regional retailers. Meybohm effectively delivered superior pricing, returning exceptional yields to the Seller.
322-324 Park Avenue | Karen Daly: 322-324 Park Avenue SW in Aiken, SC is under new ownership! In search of a solid investment property, this listing was an ideal candidate. Fully leased with two retail tenants down and a residential tenant up and located and in an up-and-coming area of Aiken’s CBD made it very appealing. Leases were re-evaluated and a new tenant was procured for the larger retail space within two weeks of closing.
Mitchell Center | Matt Rogers: Mitchell Center is celebrating the opening of one of their newest tenants, The Feed Sack. Advance America has also extended their lease in the Mitchell Center. Finally, Mitchell center has a new tenant, Lotus Beauty. Lotus will offer an assortment of beauty supplies. Set to open in the fall, be sure to stop by and check out Lotus Beauty!
935 Huskbox Way | Bobby Meybohm: This lot recently closed on Horizon South Parkway near I-20. Bobby has worked with Taco Bell franchisees and corporate for 4 years on this property. The deal was finally done by Taco Bell Corporate and construction on a new store should begin immediately. Stay tuned for late night tacos, Grovetown!
Amongst some fun events, like our Spring Vice President Appreciation Event, ICSC Conference, and opening our new development office, we’ve stayed busy with all kinds of deals. Land sales, warehouses, corporate moves, and more! It may be hot here but the heat isn’t slowing us down!
WHAT WE’VE BEEN UP TO
Vice President Appreciation Spring Event: We love celebrating with our Vice Presidents! We took over Savannah River Brewing Company with a “Blue Jeans at the Brewery” night. Great food, great beer, and fun to be had by all. We even had a visit from a pup or two! Our vice president level agents work hard to achieve this status and we love to celebrate their accomplishments!
CSRA Development Now Open!: After months of renovation, our new development office is now open! Come check out CSRA Development Company on Camelia Road. The adjacent 4,500 SF of warehouse space is now available for lease. Email Jordan Collier at firstname.lastname@example.org for more information on the space.
1096 Toolebeck Road | Dean Newman: This unique 5-acre property in Aiken hit the market in March and Dean was able to get it closed in May. That’s FAST in the world of commercial real estate. When you combine the fact that this was an outstanding and impeccably kept property along with Meybohm Commercial’s strong marketing efforts, good things happen. It was a pleasure working with a well known Aiken contractor to put this deal together with one of the largest Caterpillar dealers in the Southeast and get it closed before Memorial Day.
3951 Mullikin Road | David Hogg: David represented the seller, who originally purchased this rare 14-acre riverfront tract in Columbia County along the Savannah River to develop into residential lots. The client’s plans changed and David marketed the property for sale. After only a few months on the market David was able to secure a contract with an individual who was represented by a Meybohm residential agent, Greg Honeymichael. They were able to put together a transaction that worked well for both parties and did so in a very short period of time.
520 East Pine Log Road | Karen Daly: Corporate transactions can often be a bit “impersonal” but Karen was privileged to get to know the fantastic “boots on the ground”, John, on the Seller side, and Mike on the Buyer side, who were major reasons this sale went so smoothly. No longer the home of Atlantic Broadband, this solid, freestanding building will be a wonderful new location for the Buyer, to be announced at a later date!
1293, 1296, and 1297 Broad Street | The Finem Group: This prime downtown Augusta corner, at 13th and Broad Street, was purchased by the owner of the business next door. The property has access from both Broad and Jones Street. Broad Street is undeniably the heart of Downtown Augusta, and this building is located on the corner across from the brand new Hyatt House and less than 500 feet from the brand new Georgia Cyber Center.
AutoZone – Deans Bridge | Jordan Collier + Brian Sweeting: Jordan Collier & Brian Sweeting represented the Seller in the sale of this multi-tenant asset located in Augusta, Georgia. With strategic market positioning, the team was able to achieve above-asking price within a week of listing the property. Sifting through multiple offers, the team was able to pair the Seller with the most qualified Purchasing entity to perform on the transaction. Anchored by the AutoZone regional distribution hub for 15+ years, this core plus asset will provide the Purchaser with strong returns for years to come.
145 Acres @ Stephens Road | Travis Reed: Hitting the market at the end of April and closing on June 9th, these two properties didn’t stay on the market long. Totaling 145 acres, these two listings on Stephens Road were bought by the same buyer at the same time. Including a large pond, these properties will definitely be well-enjoyed by the new buyer!
Wrapping up April and heading into May means warmer weather is right around the corner. We enjoyed sponsoring and attending some local events but we loved how much time we got to spend honoring our staff recently! We closed some major deals this month, on behalf of our clients, and we’re thankful for their continued trust in the Meybohm Commercial Team. May is going to be a great month as this warmer weather will take us outside and on location more. See you around town!
WHAT WE’VE BEEN UP TO
Staff Greenjackets Game: We rented out the Picnic Patio at SRP Park and hosted our staff and their families for a night of baseball, fireworks, good food and good company!
Boys and Girls Club Great Futures Celebration: We had the awesome opportunity to sponsor a table at the latest Boys and Girls Club event! We heard from Kirby Smart about the bulldogs, overcoming adversity, and leadership!
Admin Appreciation Day Lunch: We wouldn’t be able to provide such high levels of service without the support of our administrative staff. We celebrated with a lunch (Tacos, yum!) and thanked them for all that they do! We have the best administrative support team!
Augusta University Golf National Championship Commemorative Event: We love supporting our local colleges and we’re proud of our Augusta University golf team for their back-to-back Championship wins. We were honored to sponsor this event!
John’s Landing | Jordan Collier + Brian Sweeting: Responding to the booming demand for single-family housing, historically high housing prices, and local counties continued resistance to apartments, Single-Family Developers are transitioning from traditional build and sale models to Build To Rent (“BTR”) communities. Capturing on the demand for BTR and rents continuing to rise, Investors are pouring capital into the space expecting risk-adjusted returns exceeding returns for all property sectors. Meybohm was able to pair a Local Developer with a National Investor, delivering profits far superior to the traditional build and sale model to the Developer. The Investor will benefit from the limited housing supply, historically stable occupancy rates, and will generate attractive, consistent and tax efficient income.
4274 Belair Frontage Road | Mark Pritchett: Mark represented an investor who recently sold a property and wanted to do a 1031 exchange to acquire an income-producing asset while avoiding taxes. They were able to successfully identify a suitable property, negotiate a contract and close on the new property well within the 1031 Exchange timeline requirements. The building has been fully leased to a church and a funeral home.
3643 Walton Way Extension | The Finem Group: Congrats to Keaton Forrester at Forrester Prosthodontics on the purchase of his new office! John Eckley and Jonathan Aceves, of the Finem Group, helped with the site selection assignment. They looked at lots of buildings and sites, on and off-market, and confirmed that this building was the perfect place for his practice.
110 Crepe Myrtle Lane | Alexia Crowley: This warehouse with attached duplex was originally built by Weldon Wyatt to store his RV and for his personal driver and chef to live in. A laundry room has since been added. This warehouse facility has been utilized by the past owner for his general contracting business and cash flowing with non-stop residential renters in the duplex throughout his ownership. This asset was sold at a 6.9% CAP rate to an all cash buyer from California who will be utilizing the warehouse for his various businesses. This tucked away asset, in the quiet commercial complex of Community Center South Executive Park, is truly a unique, hidden gem.
117 Warehouse Road | Dean Newman: Meybohm Commercial was proud to represent both the buyer and seller of this 9,000 square foot warehouse in east Aiken, approximately 2 miles from downtown Aiken. The investor who purchased this outstanding property has already secured a new tenant for the next five years. Warehouse space like this is difficult to find in today’s busy commercial real estate market.
120 George C. Wilson Drive | The Finem Group: The Finem Team was recently able to close on the sale of 1220 George C. Wilson, a 10,000 square foot, multi-tenant medical office building. Originally listed for lease, the property was ultimately purchased by Augusta Oncology. Due to a coming business need, the facility needed to be occupied prior to close, which resulted in an escalated timeline and some atypical contractual complications. Ultimately, the team negotiated hard on their client’s behalf to see the deal through, resulting in a quick close at top-of-market! Both the buyer and seller expressed great thanks to John Eckley and his team for their help! A great and successful transaction overall!
Woodruff Point | Jordan Collier + Brian Sweeting: Meybohm Commercial implemented their highly specialized sourcing strategy in the procurement of this ideally located value-add opportunity. This multi-tenant investment grade asset sits in the dense retail corridor of Greenville, SC, and was 72% occupied at the time of purchase. Through Meybohm’s active asset management, the Client achieved higher cash flows than previously realized. Upon disposition, the asset was 100% occupied with a 21% increase in weighted average rental rate. Furthermore, the asset generated enhanced returns over the short holding period of 18 months.
Knox Plaza | Jordan Collier + Brian Sweeting: As a part of a portfolio acquisition, Meybohm quickly identified this compelling investment opportunity as undervalued and poised for growth. Through a strategic partnership with our client, Meybohm tailored and provided the necessary resources to achieve the Client’s investment goal. During the investment cycle, Meybohm’s Property Management and Leasing teams was able to maximize value increasing the asset’s NOI 40.2%. At the time of disposition, Meybohm swiftly identified and confirmed potential purchaser’s that presented the highest likelihood of closing. Meybohm worked on behalf of the Client, and in tandem with the Purchasing Group ensuring an efficient and effective transaction.
As our main office is located in Augusta, GA, April means The Masters. Most things go on pause for the first full week in April. However, we stayed busy. Despite the biggest (and best) golf tournament happening just down the road, our clients come first. We brought a Food Lion, a nail salon, an Olive Garden (Yum!), and more to our local market this month. Each of these spaces will be an asset to the communities they exist in.
WHAT WE’VE BEEN UP TO…
Crexi Award: Congratulations to Jordan Collier and Brian Sweeting for receiving the Platinum Broker Award from Crexi! This award is given to the top 1,000 most-active brokers for 2021. Our agents work hard and Jordan and Brian easily earned this award. 2022 is off to a great start!
ICSC 2022 Conference: Several members of our team will be heading to the 2022 ICSC Conference in Las Vegas! ICSC LAS VEGAS is a premier event that takes place annually in May. Reach out to us if you would like to meet up and talk about retail outparcels and shopping centers throughout the Southeast!
Development Progress: Our development office renovation is coming along great at 247 Camilla Drive, off of Davis Road in Augusta. We’ll be relocating Keith Lawrence and the whole development team here in May of 2022. Come see our new digs this Summer!
Food for Thought | Jordan Collier + Brian Sweeting: Meybohm worked collectively with Berkley Capital in disposing of this investment grade asset. After acquiring the asset, Meybohm quickly implemented value-add strategies emphasizing intrinsic value and unlocking investor returns through upgrading the tenant mix and increasing rents for existing tenants. Additionally, the Meybohm-Berkley partnership was key in negotiating and executing a ten-year lease extension with the anchor tenant, Food Lion. These drivers of returns increased the NOI and mitigated future risk of poor performance allowing the center to be disposed at a near record low cap rate for Food Lion centers across the Southeast.
When All Else Fails, Make Sure You Have Elegant Nails | Matt Rogers: Elegant Nails is coming to this new retail development in Evans, GA near Riverwood! The nail salon will occupy 2,200 SF, leaving roughly 6,000 SF for other retail or restaurant tenants. Stay tuned as Elegant Nails should be opening in Fall 2022!
Booked and Busy | Bobby Meybohm: This property in the Mill Branch Development, located just off Horizon South Pkwy and I-20, just closed! This 2-acre property will be home to a new hotel. The purchaser has construction already underway! Stay tuned to see the finished project!
America’s Best Lease Ever | Mark Pritchett: Mark represented the landlord in this transaction. After some diligent effort, he was able to convince America’s Best to relocate to Augusta Exchange from another shopping center in town. America’s Best is part of National Vision, one of the largest optical retailers in the United States.
Out with the Buffet, In with the Breadsticks | The Aceves Eckley Team: The Olive Garden is officially coming to Aiken! The former Golden Corral Buffet & Grill in front of the Aiken Mall will be redeveloped over the next nine months into America’s favorite Italian restaurant. Plans are currently moving through City of Aiken, South Carolina Government‘s planning process. There were over a dozen offers, with the clear winner being Darden Restaurants, Inc., the parent company of Olive Garden.
Labs… But Super Fast | Jordan Collier + Brian Sweeting: Meybohm Commercial Investment Group is proud to announce the successful leasing to the newest tenant at 4106 Columbia Road in Augusta. This multi-year agreement encompasses Suite 100, located at the intersection of Columbia Road and Flowing Wells Road. Fastest Labs offers top-quality testing services with extremely fast, and highly accurate results. Fastest Labs was founded in 2008, and now is one of the fastest growing testing services, expanding nationwide with nearly 70 locations.
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