Harveys Supermarket

Harvey’s Supermarket in Thomasville, Georgia is a single tenant project in which the grocer has been operating successfully for over twenty years.  The property was a bit of a departure for a Vanguard acquisition, as it is a net-leased, fully-occupied property with no real value-add component.  That said, this was an attractive investment opportunity for us, due to our longstanding ownership of another project in Thomasville, and our familiarity with the market.  In addition, the property had the favorable metrics of a longstanding, successful grocery tenancy, below-market rent, and an attractive Cap Rate at purchase.  This building is approximately 46,000 square feet, and is located on East Jackson Street, one of the market’s major commercial thoroughfares.