SRS’ Southeast Investment Sales team exclusively marketed and brokered the sale of a ground leased outparcel, leased to Bank of America, in Savannah, Ga. The outparcel is located at 14083 Abercorn Street in Savannah, Ga, which is situated at the northeast corner of Abercorn Street and Rio Road and fronting Savannah Mall. The outparcel consist of 1.14 acres of land and a 3,563-square-foot building. The seller, SSF Savannah Properties, LLC, sold the property for $1.46 million on May 19, 2016 to L.L. Ventures, LLC.
“The Bank of America pad site at Savannah Mall provided an excellent opportunity for the West Coast buyer to enter the established, growing Savannah market, poised to continue as a major tourist destination into the future,” said John A. Topping Jr, associate for SRS’ Southeast Investment Sales Team. “The recently extended lease has proven Bank of America’s dedication to the site and the strong, upward trending deposits forecast a continued history of success at this location.”
John A. Topping, Jr., associate, and Robert Drake, senior analyst, in the SRS Atlanta office represented the seller, SSF Savannah Properties, LLC, in the transaction. The buyer, L.L. Ventures, LLC, was represented by Matthew Mousavi, managing principal, and Patrick R. Luther, managing principal, of SRS National Net Lease Group in Newport Beach, Ca.
About SRSReal Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.
