Hilton Head, SC

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This 80,000 sf 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. 

UPDATE:

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