Moultrie Commons

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Moultrie Commons is a 65,930 square foot property located on 1st Avenue in Moultrie, Georgia.  Originally built as a Wal-Mart, the property was mostly back-filled with a Harvey’s Supermarket after Wal-Mart relocated to a new Supercenter.  At the time of our purchase in 2013, the building was approximately 75% occupied; we subsequently leased the remainder of the building to Cititrends, who relocated from a smaller store in downtown Moultrie.

Moultrie is located in southwest Georgia, between Tifton and Thomasville, and is a major agricultural hub for the region.  Other retailers in the immediate area include Tractor Supply, Family Dollar, Rose’s, Save-A-Lot, Wal-Mart Supercenter, Publix, Home Depot and Lowe’s.  We were attracted to this investment opportunity for several reasons.  First, the value-add opportunity represented by the vacant space was appealing.  In addition, the strong positioning within the retail market, as well as the good physical condition of the property was a positive for us.  Finally, the low tenant rent, accompanying low cost-per-foot price point, and a higher than average cap rate from the outset were key deal points.

Anchor Tenants

Harvey's, CitiTrends

Location

1209 1st Ave. SE Moultrie, GA 31768

Management / Leasing Agent

Pat Prins

770-955-7677

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...

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