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 Grocery Store (part of the Winn-Dixie chain), Farmer’s Furniture, and Family Dollar.
A Vanguard affiliate purchased this property in 2015. We were very familiar with the property, as it is located approximately ½ mile from Perimeter Place, which we had owned for approximately 10 years prior. 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 College (essentially next door) 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.
Area retailers include Walgreen’s, Save-A-Lot, Wal-Mart, and Lowe’s. In addition, Hobby Lobby and TJ Maxx are reportedly building just down from Douglas Plaza on the last undeveloped parcel in the area. Douglas Plaza has outstanding visibility and street presence, and is well-located within the trade area.
805-831 S. Peterson Ave Douglas, GA 31533
Downloads (Flyer & Floor Plans)
Management / Leasing Agent
Patrick D. Prins, has been with Vanguard Associates since 2001. A relative newcomer to the real estate business when he started with Vanguard, Mr. Prins has been involved with many of the properties in the Vanguard portfolio in varying capacities...