Situated just across the street from the town’s new Wal-Mart Super Center, the project is located at 911 East Main Street Laurens, SC 29360. The property has two buildings totaling 64,566 square feet. The site was originally developed as a K-Mart building which is currently occupied by a 55,552 s.f. Belk Department Store. A Dollar General building of 9,014 s.f. was built immediately adjacent to the Belk in 2005.
Laurens proper has just over 9,000 residents, but Laurens County contains a population of over 66,000 people. The trade area draws from nearby Clinton, SC, home to Presbyterian College, and a number of other small towns throughout the county. Located in what we see as the main retail area of the market with most of the current leasing/development momentum, the project is flanked by three centers – the first of which, to the west, is a recently renovated Ingles Supermarket. Directly to the east of the center is a Dollar Tree/CitiTrends anchored center and then adjacent to that, the redeveloped former Wal-Mart building home to Big Lots, Save-A-Lot, Tractor Supply Company, and an under-construction, freestanding Chick-Fil-A restaurant. A survey of the market shows minimal competition for the Belk; who has operated in this location since taking over from K-mart in 1993.
Other positive signs for the market include its proximity to I-385, the main corridor between the Greenville-Spartanburg MSA and Columbia, the ongoing widening to four lanes of Highway 221, the main access from I-385, and the presence of a large, Wal-Mart distribution Center at Hwy 221 and I-385. In addition to Wal-Mart, major employers in the market include International Paper, Milliken, and CeramTec.
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