What are the economic implications of Topgolf and Dave & Buster’s coming to Village at Riverwatch? According to projections from Augusta Economic Development Authority reported by Damon Cline, these two projects are expected to add $15 million to the local tax base, and add 200 jobs and generate $1M in sales tax revenue. Hats off to the Economic Development Authority, who was able to help attract these developments without tax incentives, and the only expense is a $250K commitment to construct the public road that will give these sites access.
What do you think will be the impact of these new developments? Comment below:
Hi! Today we’re going to be discussing the Industrial Market Update. There’s been a few notable sales, the Keeblerbuilding sold on 7/28 for 7.4M, $16 per foot, and 1431 Marvin Griffin sold on 6/27 for 2.7M (Jay Willingham handled that one). On the leasing side a few large leases have been done, the largest is at 4301 Evans To Locks, leased over 400K SF to start in Feb, Acoustic Insulation Techniques leased 75,000 SF in Augusta Forward Drive in June of 2019,and 48KSF leased in April at 1595 Columbia Hwy N in Aiken. Overall demand for flex is strong, and with the Hock family putting some of their portfolio on the market there is availability of good multi-tenant industrial buildings. See below for more resources, including details on notable sales and leases, and a link to an overall industrial market report.
Recent Notable Industrial Transactions:
2.7M, $32.58/SF, 75,200 SF, sold on 6/27/19 — Electrical Equipment Bldg–1431 Marvin Griffing Rd Marvin Griffin Comp