google-site-verification: google5ae98130f18ad244.html

Monday, September 16, 2019
   
Text Size

Commercial Real Estate

Aug. 6 - Premier Downtown Savannah Retail Spaces Trades Hands

Savannah Business Journal Staff Report

August 6, 2018 - CBRE has facilitated the sale of News Place West Retail, a 9,423-sq.-ft. retail space on the ground floor of a mixed-use four-story complex at the intersection of West Bay Street and Barnard Street in Downtown Savannah, GA. Major tenants include Five Guys, Below Zero Rolled Ice Cream, and an international coffee retailer. The space was acquired by Miller Brothers Savannah, LLC, for $4.325 million, or $459 per square foot.

CBRE’s Craig Taylor and Elizabeth DeWitt represented the seller, News Place West, LLC, in this transaction. Heath Charamuga of Colliers’ Sacramento office represented the buyer.

“Downtown Savannah is a highly desirable area for investors, due to 13 million annual tourists, a top tier and expanding U.S. port, and a well-defined historic district,” said Craig Taylor, senior vice president at CBRE. “News Place West is in a high-profile infill location with one of the highest traffic counts and pedestrian foot traffic in the Savannah CBD, which makes it a great investment.”

The space is situated above four levels of parking, the largest underground parking deck in the Savannah CBD with 1,100 spaces. Located next to Ellis Square, the complex also features high-end residences and is within a few minutes walk to major hotels such as Andaz, Hotel Indigo, Hyatt Regency, Cotton Sail Hotel, Kessler’s Bohemian Hotel, Hilton Garden Inn, and Double Tree.

 

Comment (0) Hits: 5113

More Articles...

  1. June 12 - Kole to Manage New Downtown Apartments in Savannah
  2. June 4 - Foram Group Announces Plans for New Lakeside Village, a Mixed-Use and Luxury Community Development, in Pooler, Georgia
  3. April 12 – 5:00 p.m. - Council Delays Approval of Aluminum Windows on E. Bay Street Hotel until April 26
  4. Mar. 29 - JLL to Manage Development of Savannah Arena and Proposed Canal District
  5. March 21 – MidCity and Starland: For Bill Durrence, the Public is Going to Have to Get Used to Change
  6. FEATURE: Is Starland Village Another Trojan Horse in Overriding Zoning in the MIdCity Area ... or across the city?
  7. Feb. 26 - CRG Announces $57.5 Million Sale of Leased Speculative Industrial Building in Savannah, Georgia
  8. Jan. 31 - ​K​ole Management Company Acquires Atlanta Area Apartment Community, Heritage at Riverstone
  9. Oct. 18 - Colliers International brokers student housing sale near Georgia Southern University for $2.85 million
  10. Oct. 11 - Greystone Brown Real Estate Advisors Closes $18 Million Sale of Georgia Multifamily Acquisition
  11. Oct. 10 - Development team acquires 57-acre site adjacent to Historic District in Downtown Savannah
  12. Sept. 29 - Kole Management Expands to Charlotte Area, Buys Pavilion Village Apartments
  13. Aug. 31 – City Council votes to ‘test the water’ on selling Broughton Street and Thomas Gamble buildings
  14. July 3 - Kole Management Acquires Macon Luxury Apartment Community
  15. June 30 - J.W. Marriott at Plant Riverside District Signs First Group Contract with Georgia Municipal Association

Page 8 of 141

CLICK to SUBSCRIBE and Support Great Journalism!

Follow Us!

TwitterFacebook
MY ACCOUNT
CONTACT
SOCIAL
MORE
ADVERTISE
Coastal Empire News
Headquarters: 2222 Bull Street,Savannah, GA. 31401.
Tel: 912-220-2759 | Hours: 8:30 a.m. to 5:00 p.m.