Downtown Market Update–3rd Quarter 2019

It looks like the market in Downtown Augusta is continuing to improve!  There have been some notable sales downtown, with murmurings of decent deals being considered and hunted for.  It appears that the investors are bullish on Downtown, and that prices have not peaked.  It also appears that although there is talk of a recession, most people don’t believe Augusta will be significantly impacted.  It appears that some notable buildings are potentially transacting–Bonnie Ruben has put her portfolio on the market, and the Lamar building and the Marion building are both said to be under contract.  Ironwood Apartments sold the first week of August, and 1500 apartments are either just delivered or in development.  

 

Recent Notable Sales:

714 Broad Sold to Rafy Bassali at $39.66 per foot

1109 Broad: Security Federal bought the Geneological society for $900,000, or $126.30 per foot

1361 Broad: The Kendrick Group bought this at $170,000, or 42.92 Per foot

401 Greene: Heard Robertson purchased the building at 401 Greene Street to develop into Apartments

701 Greene:  Street sold for 2.5M from DWT Properties (Donnie Thomson) to Greene St Real Estate Investments.  

46 Thirteenth Street–the new Domino’s Pizza sold to Lead Dog LLC

 

Recent Notable Leases:  Notable leases include

Toaste of Augusta @ 722 Broad

State Farm @ 1126 Broad Street

Constantine Engineering @ 608 Broad

Best Lawyers at 801 Broad. 

Not included in the report are leases from the GA Cyber center.  

 

Here’s links to some of our downtown listings:

305 Eighth Street

822 Broad Street

1427 Broad Street

1295 Broad Street

King Mill Industrial

502 Greene Street

 

What are you seeing downtown?  What are your thoughts about the downtown market?  Are there transactions or activity that we’ve missed?  

 

Lease Report

https://presleyrealty.sharepoint.com/:b:/s/PresleyRealtycomTeamSite/EVIesZVZnEhAltvco0V8-FwB-Ce6iFAfIm_06kpH6n6yfw?e=gaAo2Z

Sale Report:

https://presleyrealty.sharepoint.com/:b:/s/PresleyRealtycomTeamSite/EVIesZVZnEhAltvco0V8-FwB-Ce6iFAfIm_06kpH6n6yfw?e=gaAo2Z