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8/4/2019 Corley Mill Development Plans May 9 2011
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Various Parcels For Sale
Sunset Blvd. Development Site
CONTACT EXCLUSIVE BROKERS:
Benjamin E. Kelly, III, CCIM @ 803.744.9830 or bkelly@naiavant.com
C. Patrick Chambers @ 803.744.9857 or pchambers@naiavant.com
Sunset Boulevard (US Hwy 378)
Lexington, SC
The information submitted herein was obtained from sources deemed to be reliable. We have no reasonto doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or leas
SITE
SUNSET
BLVD
378
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Executive Summary
LOCATION:
SITE SIZES:
UTILITIES:
ZONING:
TRAFFIC COUNTS (2009):
COMMENTS:
OUTPARCEL PRICES:
TOTAL SITE PRICE:
SUBDIVIDED
DEVELOPMENT PARCELS:
FOR FURTHERINFORMATION CONTACT:
The 67 acre site is located on Sunset Boulevard (US Highway 378),approximately 1.5 miles West of the intersection of I-20 at Exit 61 inLexington, SC. Highway 378 is the major thoroughfare connectingColumbia and the thriving Lexington submarket. The corridor hasbeen one of the fastest growing in the Columbia Metro region the pastdecade.
67 acres of developable propertyOutparcels can be divided to suitLarger Development Tracts can be divided to suit
All Available at Site:Water Supply - Town of Lexington
Sewer Supply - Town of LexingtonStormwater Detention included in master plan
ID - Intense DevelopmentLexington County
Sunset Boulevard (Station 183) 31,100 VPD (East of site)Sunset Boulevard (Station 181) 36,500 VPD (West of site)
The 67-acre development site enjoys approximately 2,555 linear feetof frontage on U.S. Highway 378 (Sunset Boulevard) with excellentaccess from Sunset Boulevard and I-20. The site is the last largedevelopment tract on U.S. 378 east of Lexington on the going home
side between Columbia and Lexington. The property can be pur-chased in its entirety or subdivided into smaller development parcels.Access is to be provided by two proposed signalized intersections withadditional access points to be determined by use. New retail develop-ments in close proximity to the site include Target, Best Buy, WorldMarket, PetSmart, Home Depot and many others.
$12.00 per square footProposed site plan attached.
$11,055,000 ($165,000/acre)
Any parcel less than the total 67-acre parcel (excluding outparcels) willbe priced on demand.
Ben Kelly, CCIM 803.744.9830Patrick Chambers 803.744.9857
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Location Map
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N
SITE
2009 Traffic Count
36,500 VPD
378
ProposedTraffic Light
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Corley Mill Rd
SITE
378
2009 Traffic Count
29,600 VPD
New High School Site
Projected Opening: 2013
Projected Enrollment: 2,000
T
ProposedTraffic Light
OPERATIONS CENTER
BRANCH BANK
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This conceptual plan is
for discussion purposes
only based on market
interest at this time
Outparcels can be divided to suit based on development need
may not be sold due to anchor tenant demands for vi
Under
Contract
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Demographic ProfileSunset and Hope FerryLexington, South Carolina
Population 1 Mile 2 Miles 3 Miles 5 Miles2000 Census 2,900 9,213 18,770 65,4322010 Estimate 3,035 11,984 26,269 79,7142015 Projection 3,103 13,369 30,019 86,856% Chg. 2010-2015 2.2% 11.6% 14.3% 9.0%
Households2000 Census 1,064 3,361 6,971 24,4992010 Estimate 1,122 4,417 10,004 30,0542015 Projection 1,149 4,952 11,546 33,406
Average Household Size2000 2.70 2.71 2.56 2.53
2010 2.70 2.70 2.60 2.602015 2.70 2.70 2.60 2.60
Median Household Income2010 $62,944 $62,356 $54,391 $54,2722015 $62,805 $62,233 $54,508 $54,302
Average Household Income2010 $71,480 $71,525 $62,756 $62,2772015 $71,343 $71,400 $62,740 $62,224
Per Capita Household Income2010 $26,406 $26,438 $24,256 $23,820
2015 $26,241 $26,308 $24,196 $23,717
2010 Household Income DistributionUnder $25,000 10.8% 11.3% 15.7% 17.1%$25,000 - $50,000 23.6% 23.1% 25.7% 26.8%$50,000 - $75,000 29.1% 28.8% 27.4% 25.8%$75,000 - $125,000 28.7% 28.3% 24.0% 23.6%Over $125,000 7.7% 8.4% 7.2% 6.7%
USPS Business Deliveries2010 147 390 1,070 2,333
5 Mile Population
65,432
79,71486,856
2000 Census 2010 Estimate 2015 Projection
2010 Household Inc. Distribution - 5 Miles
17.1%
26.8% 25.8%23.6%
6.7%
Under
$25,000
$25,000 -
$50,000
$50,000 -
$75,000
$75,000 -
$125,000
Over
$125,000
Number of Households - 5 Miles
24,499
30,054
33,406
2000 Census 2010 Estimate 2015 Projection
This document may not be reproduced in part or in whole without the express written permission of NAI Avant LLC.Source: Geolytics and USPS Delivery Statistics. 1
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Demographic ProfileSunset and Hope FerryLexington, South Carolina
2010 Dist. by Race 1 Mile 2 Miles 3 Miles 5 MilesWhite 92.0% 92.3% 90.6% 85.0%Black 4.7% 4.8% 6.4% 11.7%Native American 0.1% 0.2% 0.2% 0.3%Asian 1.9% 1.6% 1.6% 2.0%Pacific Islander 0.0% 0.0% 0.0% 0.0%Two or More Races 1.2% 1.1% 1.1% 1.0%Hispanic 3.2% 3.5% 3.9% 3.7%
2010 Age Distribution0 to 9 13.7% 13.3% 13.0% 12.4%10 to 19 16.3% 15.8% 15.0% 14.3%20 to 29 12.6% 12.6% 12.6% 12.7%
30 to 39 12.2% 11.9% 12.0% 11.8%40 to 49 17.6% 17.0% 16.3% 15.3%50 to 59 14.7% 15.1% 15.0% 15.2%60 to 69 7.9% 8.6% 9.3% 10.4%70 to 79 3.3% 3.7% 4.3% 5.0%80 Plus 1.7% 2.0% 2.5% 2.8%
Median Age2010 43.6 44.8 44.9 45.62015 44.4 45.5 45.8 46.3
2010 Educational AttainmentNo H.S. Diploma 5.7% 6.5% 9.2% 10.4%
High School Grad. 17.5% 18.5% 23.2% 23.3%Some College 26.0% 24.5% 24.0% 23.2%Associates Degree 11.7% 11.0% 10.8% 10.1%Bachelors 26.8% 27.2% 23.0% 22.9%Grad. or Professional 12.4% 12.3% 9.8% 10.1%
2010 Housing ProfilePop. In Group Quarters 6 58 259 1,574Housing Units 1,048 3,397 7,995 29,564
Owner Occupied 81.7% 80.7% 77.7% 77.0%Renter Occupied 13.5% 13.3% 16.0% 17.4%Vacant 4.9% 6.1% 6.2% 5.6%
2010 Age Distribution - 5 Miles
12.4%
14.3%
12.7%11.8%
15.3% 15.2%
10.4%
5.0%
2.8%
0-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80+
2010 Population Distribution - 5 Miles
85.0%
11.7%
0.3%
2.0%
1.0%
3.7%
0.0%
White
Black
Native American
Asian
Pacific Islander
Two or More Races
Hispanic
2010 Educational Attainment
Adults 25 Years and Older- 5 Miles
Some College
23.2%
Bachelors22.9%
Grad. or
Professional
10.1%
Associates
Degree
10.1%
No H.S. Diploma
10.4%
High School
Grad.
23.3%
This document may not be reproduced in part or in whole without the express written permission of NAI Avant LLC.Source: Geolytics and USPS Delivery Statistics. 2
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This document may not be reproduced in part or in whole without the express written permission of NAI Avan
June 14
Overview
The Lexington market area located in the western portionthe Columbia, South Carolmetropolitan area. It is boundon the north by Lake Murray, the south by Interstate 20, on west by Calks Ferry Road and east by the Saluda River. Tgeographic and economic cenof the market is the Town Lexington. The area is one of
fastest growing areas in Greater Columbia area, secoonly to the Northeast Richlamarket. It is also one of the three in household income. Tprincipal assets of this market (1) the Lexington 1 school distwhich is widely considered onethe top in the state; (2) extensLake Murray shoreline;
numerous employers located inimmediately adjacent to the mket; and (4) easy access to region via Interstate 20, US 3US 1, and SC 6.
Land Pricing and Rents
Land prices and rents are retively high within the Lexingmarket area. Sites for single fa
ily residential development adifficult to find and command strongest prices in the regiPrime sites for banks and restarants are selling for up to $30square foot and Class A smshop retail rents are up to $25square foot.
LexingtonMarket Overview
Table 1: Real Estate Pricing in Lexington Market Area
Land Use Price
SF Development Tracts (Acre) $40,000 - $50,000
Retail/Bank Site (S.F.) $10 - $30
Medical or Office Site (S.F.) $3.50 - $7.75
Multifamily Tract (Acre) $50,000 - $80,000
ndustrial\Warehouse Site (Acre) $45,000 - $75,000
Class A Small Retail Rent (S.F.) $12 - $25
Class A Industrial Rent (S.F.) $4.25 - $5
Class A Office Rent (S.F.) $16 - $18
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Population
Since 2000, the Lexington marpopulation expanded by 42%adding an average of 1,260 psons a year. By the year 2014, market is projected to reanearly 49,000 persons.
Geographically, the populationconcentrated in and around Town of Lexington. Howeverthe past few years, growth hspread westward to the Highw204 corridor and more receneastward along US 378 betweI-20 and the Town of Lexington
The Lexington market is a retively young area. Twenty-sevpercent of the population wunder 20 years of age in 207.5% were over the age of
years. Of the remainder, the sgle largest age cohort was psons between 40 and 59 yearsage at nearly a third of the poplation.
LexingtonMarket Overview
Figure 2: 2010 Age Distribution
12.3%
14.2%
12.3% 11.9%
16.1%15.4%
10.1%
4.8%
2.8%
0-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80+
This document may not be reproduced in part or in whole without the express written permission of NAI Avan
June 14
Figure 1: Population and Households 2000 - 2015
10,770
16,34319,439
29,718
42,305
48,598
2000 2010 2015
Households Population
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Residential Developmen
Between 2000 and 2009, annual average of 800 housunits were permitted in tLexington market with a high1,475 in 2006. Until 2006, the vmajority of permits were issufor single family units. Howevin 2006 635 multifamily units wpermitted. Another 464 were pmitted in 2007.
The most significant changethe Lexington market over the lfive years is the addition of masingle family residential develoments east of the Town Lexington. There are now active single family subdivisioeast of the Town - largely duethe access to sewer. On the wside, there are also many n
developments with the majoconcentrated around the SC 2corridor. This corridor is attractbecause it has easy access to tTown of Lexington, the maemployers nearby and Interst20 access via SC 204. Assuman average of 600 new homesyear are permitted, there is aba 5 year supply of lots availabl
LexingtonMarket Overview
This document may not be reproduced in part or in whole without the express written permission of NAI Avan
June 14
Table 2: Residential Development Planned or Under Construction
Development NameNumber of Housing Units
Today Build Out
Saluda River Club 57 450
Persimmon Grove 268 447
Heritage Farms 190 400
Summer Lake 36 300
Wellesley 170 257
Vintners Wood 60 228
The Mill 136 193
Settlers Point 132 168
Dawsons Park 68 160
Bonhomme Green 20 126
Caroline Springs 79 113
Others 461 1,314
Total 1,480 4,669
Figure 3: Housing Units Permitted
432 460583
710571
696 840 814573
495
491
627690
768
1,475
1,278
595
495
817770
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Single Family Permits Total Units Permitted
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Income
The Lexington market is oneColumbias most affluent suburThe average household incomethe Lexington market is estimaat more than $67,000.
About a tenth of all househohad incomes greater th$125,000 in 2010. Another quter were between $75,000 a$125,000.
Employment
Major industrial, office, and wahouse/distribution employers predominantly distributed alothe Interstate 20 corridor. Maretail employment is clusteralong Sunset Blvd. (US 37Government employment is c
centrated within the Town Lexington - the county seat.
Major employers in Lexington concentrated in manufacturitrade, and government sectoNotably absent is the presenceoffice buildings. However, maof the markets residents comute into the office clusters in tDowntown Columbia and
Andrews markets.
LexingtonMarket Overview
Figure 4: 2010 Household Income Distribution
17.3%
21.7%
24.9%26.0%
10.0%
Under $25,000 $25,000 -$50,000
$50,000 -$75,000
$75,000 -$125,000
Over $125,000
This document may not be reproduced in part or in whole without the express written permission of NAI Avan
June 14
Table 4: Major Employers in or near the Lexington Market
Company Industry Employment
Michelin Tire Manufacturer 1,650
Lexington One School District Public Education 1,400
Lexington County Government 1,000
Carolina First Technology Center Financial Services 750
US Food Service Food Distribution 600
Southeastern Freight Freight Distribution 614
Cooper Tools Power Tools 500
Prysmian Optic Cable 375
Momentum Logistics Freight Distribution 350Walter P. Rawl and Sons Vegetable Products 250
Medical Services of America Medical Services 230
nland Paperboard and Packaging Packaging Manuf. 186
Food Services Inc. Food Distribution 128
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LexingtonMarket Overview
This document may not be reproduced in part or in whole without the express written permission of NAI Avan
Commercial Activity
The US 378 (Sunset Blvd.) Corridorhas been the most active commercial corridor in Lexington for past five years. Driven by the surrounding residential growth, the growth of the Lexington Medical Cenand the expansion of utilities, this area has seen a variety of retail and medical office space and wahouse/distribution appear in the past few years. This trend should accelerate in the next few years with trecent opening of Lexington Pavilion - a 230,000 square foot Target anchored center and the redevelopmof the former Corley lumber mill.
The US 1 (E. Main Street) Corridorhas a new building supply store and two apartment complexes. A maretail site is reserved on the east side of the US 1/Interstate 20 interchange although there does not appe
to be any immediate plans to begin development.
The SC 204 Corridoris defined by its three principal intersections with US 1, US 378, and I-20. This ais at the center of rapid residential development west of the Town of Lexington. It is anchored by LexingHigh School and the Lake Murray Shopping Center. A Publix anchored shopping center is under constrtion at the intersection with US 378 that should open in early 2011.
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