This project is a former Sams Club Wholesale store, (closed when they relocated to a new larger facility), which is being converted to indoor, climate-controlled storage with 514 units. In addition to the storage, we anticipate the sale of a pad for an additional $1.25M in year one. Upon stabilization, we anticipate receiving back an additional $2M in refinance proceeds.
Upon further review it was determined that keeping this 80,000 sf building as retail would be the best and highest use. We have executed a lease agreement with a regional grocery store operator for 52,000 sf and have LOI's for the remaining space.
95 Matthews Dr., Hilton Head, SC
Nothing contained on this site should be construed as tax advice. Please consult your tax professional for specific tax advise. We are happy to visit with your tax professional to discuss Opportunity Zone specific regulations and how they may benefit you. Investments in real estate contain risks that should be understood before investing. The information on this site does not constitute an offering. An offering may only be made by the funds official PPM. Please contact us if you have questions about Opportunity Zone investing or to determine if you qualify to receive offering materials.
Copyright © 2022 GPWM FUNDS - All Rights Reserved.