RealINSIGHT Marketplace and Cushman & Wakefield are pleased to present Oglethorpe Plaza. Located in the stable population hub of Albany in Southwest Georgia, Oglethorpe Plaza is a highly opportunistic 108,676 SF Neighborhood Retail Center located at 1604 East Oglethorpe Boulevard. Historically, Albany was a transportation hub with the Flint River and as many as seven railroads meeting at the southeastern trade center. While some of those dynamics have shifted, Albany, the 10th largest city in Georgia, is still driven by the its geographic location and transportation network with MillerCoors, Proctor & Gamble, and Georgia Pacific all having facilities as well as the Marine Corp having a Logistics Base in Albany.
Oglethorpe Plaza is exceptionally located at the crossroads of US Highway 19 and US Highway Business 83. The Building is 82% occupied and anchored by local discount chain retailer Rose’s, which is reportedly one of its top stores nationally based on gross sales volume. The rent roll provides an excellent base of in-place income and offers significant upside potential through the lease-up and/or repositioning of the remaining vacant suites. Oglethorpe Plaza provides prospective investors with an excellent value-add/repositioning opportunity at the intersection of two-major regional thoroughfares.
Located at the Intersection of Two Major Thoroughfares – The Property is located on the southeast portion of the cloverleaf intersection of US Highway Business 82 and US Highway 19 with an average daily traffic volume around 40,000 cars.
Solid Demographics and Stable Demand Drivers – With major employers located in Albany, Oglethorpe Plaza is surrounded by a stable working population with more than 58,000 people within 3 miles radius of the Property.
Durable In-Place Income – In tenancy since the 1970's, Rose’s at Oglethorpe Plaza continues to be one of the strongest performing stores nationally for the discount chain. Reportedly, the store does close to $5 million in annual gross sales.
Value-Add/Repositioning Opportunity - The Property presents an attractive Value Add/Repositioning opportunity with in-place cash flow from existing tenant base.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
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You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
1604 E Oglethorpe Ave, Albany, GA 31705
Platform fee for this transaction is 5.00% or a minimum of $25,000.
Lamar P. Fisher
Fisher Auction Company Inc.