Meybohm Commercial’s April 2022 Newsletter
APRIL WAS NO FOOL…
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.