Crossroads Plaza Hwy 101 & Hwy 296 (Reidville Rd.) Greer, SC Offered by: CAROLINA HOLDINGS, INC. 300 N. Main St., #402 Greenville, SC 29601 864.272.0088 800.763.8088 www.choldings.com Site Summary Aerial Views Neighborhoods Area Map Site Plan The information herein is provided without representation or warranty. Relevant Articles Demographics Hwy. 10 1 Hwy. 296 Hwy. 296 H wy. 1 01 SITE Hwy. 101 Hwy. 296 Hwy. 296
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Crossroads Plaza CAROLINA HOLDINGS, INC....Crossroads Plaza Hwy 101 & Hwy 296 (Reidville Rd.) Greer, SC Offered by: CAROLINA HOLDINGS, INC. 300 N. Main St., #402 Greenville, SC 29601
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Crossroads P
lazaH
wy 101 &
Hw
y 296 (Reidville R
d.)G
reer, SC
Offered by:CAROLINA HOLDINGS, INC.
300 N. Main St., #402Greenville, SC 29601
864.272.0088800.763.8088
www.choldings.com
Site Summary
Aerial Views
Neighborhoods
Area Map
Site Plan
The information herein is provided without representation or warranty.
Relevant Articles
Demographics
Hwy. 101
Hwy. 296
Hwy. 296
Hwy. 101 SITE
Hwy.
101
Hwy. 29
6
Hwy.
296
CHI
SC, Greer – Crossroads Plaza (Hwy 101/Hwy 296)
Map
Greenville Metro Area
Spartanburg Metro Area
Hwy 101
Hwy 296
Greenville-Spartanburg International Airport
BMW
Hwy 14
Woodruff Rd.
Hwy 417
Willow Creek
Woodruff
SITE
New School
Site
CHI
SC
, Gre
er –
Cro
ssro
ads
Pla
za (H
wy
101/
Hw
y 29
6)
Map
To BI-LO & Publix(6.1 miles from site)
New I-85 Interchange (Brockman/McClimon)
New I-85 Intersection Improvement (Airport)
SITE
To Publix & Ingles(5.5 miles from site)
Hwy. 296 Re-alignment
New elementary school site
CHI
SC, Greer – Crossroads Plaza (Hwy 101/Hwy 296)
Site Summ
arySITE SUMMARY
Location: The site is situated at the northwest corner of the signalized intersection of SC Hwy 101, which is five lanes, and SC Hwy 296 (Reidville Road).
Area: The intersection is central to a high-growth area that is fueled by the major employment at BMW and other employers in the vicinity of I-85 and Hwy 101. SC Hwy 101 was recently expanded from 2 lanes to 5 lanes along the trade area from I-85 to SC 417 (eight miles) and will ultimately be expanded all the way to I-26. This $31 million project was completed in spring of 2005.
Size: 23.69 acres
Plan: Crossroads Plaza will consist of a grocery store and associated development totaling approximately 80,000 square feet. There are four outparcels. One has been sold to Spinx (convenience store) and one to First Citizens, and two are available at 1.08 acres each. The rear of the property can be developed for non-retail uses such as business center or multi-family.
This area’s growth should be sustained well into the future with the availability of developable land, continued corporate growth, and a new interstate interchange into the trade area at Brockman-McClimon Road. This new interchange was designed to accommodate the continued residential growth and the expansion of the BMW plant. In addition, the new intersection of Highways 101 and 296 has been completed as part of extensive improvements now concluded.
This trade area is currently under-served in the retail and especially the grocery segment as there are no existing grocery stores. The closest grocery stores are Publix and Ingles (5.5 miles to the east at Hwy 296 and Hwy 290), and Bi- Lo and Publix at Five Forks (6.1 miles from the site at Woodruff and Batesville).
Other attributes of the site include the following:
•The site is located at one of only 18 intersections designated as a “commercial node” within the unincorporated portion of Spartanburg County in the 2015 Spartanburg County Comprehensive Plan. No other intersection in this area has this designation.
•The site provides excellent separation from existing grocery stores at 6.1 miles to the west and 5.5 miles to the east.
•This area is an extremely high growth area (63.52% for 1990-2000), consisting of approximately 21,788 people with an average household income of $76,220 within a 5 mile radius of the site.
•There are numerous new residential subdivisions in all directions surrounding the site as listed in the “New Residential Developments” section of this package.
•This area is exploding with new infrastructure improvements, including a major sewer line extension and treatment facilities and new elementary school by the end of 2008.
Wendover Square High Point, NC
Kinko’sGreenville, SC
Jackson PlazaCookeville, TN
Circuit CityWinston-Salem, NC
Oth
er C
HI P
roje
cts
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SC, Greer – Crossroads Plaza (Hwy 101/Hwy 296)
Area G
rowth
CHI
GREER GROWTHSouth Carolina’s fastest growing city with a 63% growth rate since 1990.
Abner Creek Elementary School, located on Abner Creek Road, will open in August of 2008.
The Village at Pelham is a 130-acre master-planned healthcare, wellness and special retail facility. The health-care system’s $51 million, 48-bed Village Hospital is expected to open by October 2008. Already open at the site are an outpatient surgery center, physicians’ offices and services, and an imaging center. Construction on a $1.8 million bypass is under way and is expected to be finished by June. The new route will allow motorists to take a half-circle drive around Spartanburg Regional Healthcare System’s medical campus off State 14 to reach points east.
630Honeywell Engine Systems & Services
700Rockwell Automation-Power Systems
1900Michelin North America Inc.
EMPLOYEESEMPLOYER
430Bausch & Lomb
600Cryovac Div-Sealed Air Corp.
637Mitsubishi Polyester Film
4700BMW Manufacturing Corp
Source: Greenville News, Greer Development Corporation
Major Employers in Greer/Greenville, 2004
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SC, Greer – Crossroads Plaza (Hwy 101/Hwy 296)
Area G
rowth H
ighlightsCHIBMW
• BMW Manufacturing, located in Greer, is the only BMW car production plant located in the United States. It produces the X3, X5, the Z4 Roadster, Z4 Coupe, and the new X6.
• BMW announced in March 2008 an investment of $750 million to increase the plant by 1.5 million square feet and add 500 employees.
• BMW will be able to produce 240,000 units at the Greer facility.
• BMW has invested more than $4.2 billion in this facility and employs 4,500 associates and 900 contract employees.
• BMW Charity Pro–Am (Nationwide Tour’s largest event) has raised over $5.7 million in its seven year history. The funds are distributed to local charities throughout Upstate South Carolina.
• BMW’s investment in SC has a multiplier effect of 3:1 and to date has helped create more than 16,650 jobs in the state.
• Of the BMW vehicles produced throughout the world, the Greer plant produces 16% of the total volume.
UPSTATE• The Greenville-Spartanburg-Anderson MSA was ranked 7th
among all MSAs by site consultants considering the top markets for economic development in the millennium.
• Forbes recently named Greenville the 37th “Best City for Jobs in 2008”, as measured against the 100 largest MSAs in the United States. Two components of the ranking were income growth (12th) and job growth (22nd).
• Greenville is home to Fluor’s power and infrastructure divisions, both of which recently posted record backlogs for work as of Fluor’s record 2nd quarter earnings announcement. Fluor employs 2,800 associates at its 800,000 SF campus.
• In the past three years the Upstate has generated over $712 million in capital investment and 3,300 jobs for the automotive industry.
• BMW Manufacturing has joined forces with Clemson University and the State of SC to develop the Clemson University International Center for Automotive Research (ICAR). The project has attracted commitments of more than $112 million in public and private funding. Other investors include Sun Microsystems, Timken, IBM, AT&T, and Microsoft, to name a few.
• Adidas Group has constructed state-of-the-art distribution facilities in Spartanburg. The facility will be approximately 1.1 million square feet along with an apparel facility measuring approximately 800,000 square feet. The $150 million project is expected to create 1200 jobs in Spartanburg County.
• The South Financial Group is building a new corporate campus along I-85. The first phase will be 400,000 SF and bring 500 to 600 new employees into the market.
Source: bmwusfactory.com, Greer Development Corporation, Forbes Magazine, 1/10/2008, “Best Cities for Jobs in 2008”
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SC, Greer – Crossroads Plaza (Hwy 101/Hwy 296)
Housing U
pdateCHI
HOUSING• Residential growth is not anticipated to slow down. In the Greer area, as of 12/07, there are over 120
residential developments either planned or under construction. There will be the potential for over 8,900 new units as build-out occurs. Based on this data, the Greer area could anticipate over 20,000 new potential residents over the next five to seven years.
• During 2006, the Greer area saw homes sales increase 26% to 1,467 units from 1,164 in 2005. The average home price in 2006 moderated at $192,924 compared to $197,695 in 2005.
• Blue Ridge Plantation Subdivision continues construction on their 400+ acre development which will have over 1,100 homes priced from $130,000 to $400,000.
• The Greenville-Spartanburg metro area is ranked in the top ten of the nation for overall real estate market.
1,164
$197,695
$160,730
2005
1,4671,186Total Homes Sold
$192,924$174,400Average Home Price
$160,525$139,800Median Home Price
20062004Greer Area
Housing Market
Source: Greer Development Corporation, Greenville County Board of Realtors
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SC, Greer – Crossroads Plaza (Hwy 101/Hwy 296)
Residential Status R
eportMap # Quadrant Name of Development
Development Commencement
DateProjected Completion
DateBuildout # of
UnitsCurrent # of
Units# of Units Under
ConstructionTypical Package
Price Contact Name & Phone
1 SW Bridgewater 2002 2003 45 45 $85K
2 SW Woodland Hills 2000 2005 135 53 3 $200-275K
3 NW Heartwood Place 1999 2004 120 92 2 $150-175K
4 NW Joe Leonard Road 1999 2003 6 $250-300K
5 SW Bent Creek Plantation 1998 2007 400 312 14 $170-270K