Douglas Plaza is a 94,790 square foot project located on South Peterson Avenue in Douglas, Georgia. Douglas is the county seat of Coffee County, and the trade area extends into adjacent counties as well. The main tenants in Douglas Plaza are Harvey’s Supermarket (part of the Southeastern Grocers parent company), Farmer’s Furniture, and Family Dollar.
Due to its close proximity (.5 mile) from Perimeter Place, a property in which Vanguard has owned since 2007, Vanguard was very familiar with the property prior to the purchase. Douglas Plaza represented an opportunity to control the two largest multi-tenant centers in a space-constrained market which, due to the presence of South Georgia State College and the municipal airport, offers very little in the way of future buildable sites. In addition, the longstanding tenancy/performance of the anchor tenants, combined with very low base rents and an attractive cost-per-foot on acquisition, made this a very attractive investment opportunity. Douglas Plaza has outstanding visibility, access, and street presence, and is well-located within the trade area.
Area retailers include Walgreens, Save-A-Lot, Walmart, and Lowe’s. In addition, Hobby Lobby and Marshall’s are building just down from Douglas Plaza on the last undeveloped parcel in the area. The project will include outparcels for Chick-fil-A, Starbucks, and Cookout, in addition to several other small retailers.
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