Tifton Westgate is a smaller, 16,500 square foot project located on Virginia Avenue in Tifton Georgia, and adjacent to our Tifton Corners property. A Vanguard affiliate purchased this property at auction in 2015; at the time, it was a lender-owned property that had a single tenant, Dollar General, occupying approximately 50% of the building. We have since leased spaces to a beauty supply store as well as a hair salon, and are currently 85% leased. Plans for this project include a light renovation in the upcoming year.
This acquisition was attractive to us in more than one sense. First, we were able to purchase the property via the auction process at a price that was somewhat less than the underlying land value. Second, we saw an opportunity to produce significantly above-average returns via an aggressive leasing & management program, which we have successfully accomplished. Finally, the positioning of this property adjacent to Tifton Corners, increases our options with regard to future redevelopment of the combined properties.
123 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...