The Boulder Group, a net leased investment brokerage firm completed the sale of a multi-tenant PetSmart and Animal Care located at 161 Copper Plate Road in Hardeeville, South Carolina for $4,775,000.<\/p>\n
The 23,834 square foot net leased Petsmart building was constructed in 2018. The property is well located along Highway 278 (26,100 VPD) which is a primary east-west thoroughfare that leads to Hilton Head Island and Interstate 95 which connects to Savannah. The property is an outparcel to Walmart Supercenter and is near other retailers including Publix, Circle K, Dollar Tree, TD Bank and numerous luxury car dealerships such as Audi, Porsche, Land Rover and Lexus. Additionally, the property is located near Sun City Hilton Head, a premier active adult community home to more than 16,000 residents. The property is also located near the University of South Carolina Beaufort – Bluffton campus (2,100 students) and Technical College of the Lowcountry (2,500 students).<\/p>\n
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller is a southeast based developer and the buyer is a west coast based real estate investor.<\/p>\n
There are ten years remaining on the corporate PetSmart lease and 9 years remaining on the Animal Care lease. PetSmart occupies 82% of the total square footage of the building.<\/p>\n
\u201cPet related assets are in demand in the post-Covid economy as there was an increase in pet ownership\u201d said Randy Blankstein, President of The Boulder Group.\u00a0 Jimmy Goodman, Partner of The Boulder Group, added, \u201cThe market for e-commerce resistant properties remains active after the start of the year.\u201d<\/p>\n