Tifton Corners is a 186,629 square foot property located on Virginia Avenue, parallel to I-75, in Tifton, Georgia. This property was purchased by Vanguard in 2013 as a relatively stable asset, with Big Lots, Save-A-Lot, Tractor Supply Company, Dollar Tree, Hibbett Sports, and Cititrends as the main tenants. Tifton Corners is the largest multi-tenant shopping center serving an extended trade area, and has direct visibility from I-75, as well as direct traffic signal access, and multiple ingress/egress points.
Tifton is a smaller, but vibrant market located approximately 40 miles north of Valdosta, and 80 miles south of Warner Robins/Macon. As the largest market in between these two, Tifton serves as the hub for an extended trade area. I-75 serves as a significant retail catalyst for the area, with several hundred hotel rooms, and numerous national restaurant chains in immediate proximity to Tifton Corners. Other retailers in the immediate vicinity include Publix, TJ Maxx, Jo-Ann’s Crafts, Hobby Lobby, Wal-Mart Supercenter, Lowe’s, and K-Mart.
We were attracted to this property as an acquisition for a number of reasons. First and foremost, it fit within our existing footprint from a geographic standpoint, as well as contained a tenant roster that was extremely compatible with our overall portfolio. In our view, most of the anchor tenants have below-market rental rates, and proven performance history, which acts as an effective risk manager against future tenant rollover. Our acquisition cost was a fraction of what new construction would run, which further diminishes risk. Finally, this project is located on a large, irreplaceable land parcel in a growing market; we feel that down the road, there will be significant opportunities to redevelop and reposition all, or portions of, this project.
121 Virginia Ave South Tifton, GA 31794
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...