Summerville Plaza, Summerville, Charleston, South Carolina
Summerville Plaza is a supermarket anchored shopping centre consisting of 4 buildings occupying 107,600 square feet on a 584,320 sqaure feet site. The property is well leased to a number of national retailers including Piggly Wiggly supermarket, a 10,900 square feet freestanding Eckerd Pharmacy, a Dollar Tree discount variety store and Tuesday Morning.
- Purchase Price (USD)
- 11,850,000
- Lease Expiry (from July 1 2008)
- 4.7 years by income
- Major Tenants
- Piggly Wiggly and Eckerd Pharmacy
- Expiry (Major Tenants)
- June 2013 and March 2020
- Building Area
- 107,600 square feet
- Site Area
- 584,520 square feet Car Spaces
- 327
Location
Summerville Plaza is located at the intersection of Bacon’s Bridge and Trolley Roads, a few minutes drive from central Summerville. It is easily accessed by the entire Dorchester County submarket via the SC-18 99 and SC-165 major roadways, both of which are major commercial corridors in Dorchester County. Summerville’s economy is driven by the Port of Charleston, US military and tourism. Summerville also benefits from a growing population base due to its proximity to historic Charleston, mild climate and overall high quality of life. In a trade area analysis undertaken by Deep End Services it estimated that:
- The population growth rate within the catchment area is expected to average 2.0% per annum between 2006 and 2011
- The catchment area demographic structure can be characterised as traditional, middle class families
- The Piggly Wiggly supermarket is expected to increase turnover at an average rate of 1.5% per annum between 2006 and 2011.