Corley Mill Development Plans May 9 2011

8/4/2019 Corley Mill Development Plans May 9 2011

1/13

Various Parcels For Sale

Sunset Blvd. Development Site

CONTACT EXCLUSIVE BROKERS:

Benjamin E. Kelly, III, CCIM @ 803.744.9830 or [email protected]

C. Patrick Chambers @ 803.744.9857 or [email protected]

Sunset Boulevard (US Hwy 378)

Lexington, SC

The information submitted herein was obtained from sources deemed to be reliable. We have no reasonto doubt its accuracy, but we do not guarantee it. All information should be verified prior to purchase or leas

SITE

SUNSET

BLVD

378


2/13

Executive Summary

LOCATION:

SITE SIZES:

UTILITIES:

ZONING:

TRAFFIC COUNTS (2009):

COMMENTS:

OUTPARCEL PRICES:

TOTAL SITE PRICE:

SUBDIVIDED

DEVELOPMENT PARCELS:

FOR FURTHERINFORMATION CONTACT:

The 67 acre site is located on Sunset Boulevard (US Highway 378),approximately 1.5 miles West of the intersection of I-20 at Exit 61 inLexington, SC. Highway 378 is the major thoroughfare connectingColumbia and the thriving Lexington submarket. The corridor hasbeen one of the fastest growing in the Columbia Metro region the pastdecade.

67 acres of developable propertyOutparcels can be divided to suitLarger Development Tracts can be divided to suit

All Available at Site:Water Supply - Town of Lexington

Sewer Supply - Town of LexingtonStormwater Detention included in master plan

ID - Intense DevelopmentLexington County

Sunset Boulevard (Station 183) 31,100 VPD (East of site)Sunset Boulevard (Station 181) 36,500 VPD (West of site)

The 67-acre development site enjoys approximately 2,555 linear feetof frontage on U.S. Highway 378 (Sunset Boulevard) with excellentaccess from Sunset Boulevard and I-20. The site is the last largedevelopment tract on U.S. 378 east of Lexington on the going home

side between Columbia and Lexington. The property can be pur-chased in its entirety or subdivided into smaller development parcels.Access is to be provided by two proposed signalized intersections withadditional access points to be determined by use. New retail develop-ments in close proximity to the site include Target, Best Buy, WorldMarket, PetSmart, Home Depot and many others.

$12.00 per square footProposed site plan attached.

$11,055,000 ($165,000/acre)

Any parcel less than the total 67-acre parcel (excluding outparcels) willbe priced on demand.

Ben Kelly, CCIM 803.744.9830Patrick Chambers 803.744.9857


3/13

Location Map


4/13

N

SITE

2009 Traffic Count

36,500 VPD

378

ProposedTraffic Light


5/13

Corley Mill Rd

SITE

378

2009 Traffic Count

29,600 VPD

New High School Site

Projected Opening: 2013

Projected Enrollment: 2,000

T

ProposedTraffic Light

OPERATIONS CENTER

BRANCH BANK


6/13

This conceptual plan is

for discussion purposes

only based on market

interest at this time

Outparcels can be divided to suit based on development need

may not be sold due to anchor tenant demands for vi

Under

Contract


7/13

Demographic ProfileSunset and Hope FerryLexington, South Carolina

Population 1 Mile 2 Miles 3 Miles 5 Miles2000 Census 2,900 9,213 18,770 65,4322010 Estimate 3,035 11,984 26,269 79,7142015 Projection 3,103 13,369 30,019 86,856% Chg. 2010-2015 2.2% 11.6% 14.3% 9.0%

Households2000 Census 1,064 3,361 6,971 24,4992010 Estimate 1,122 4,417 10,004 30,0542015 Projection 1,149 4,952 11,546 33,406

Average Household Size2000 2.70 2.71 2.56 2.53

2010 2.70 2.70 2.60 2.602015 2.70 2.70 2.60 2.60

Median Household Income2010 $62,944 $62,356 $54,391 $54,2722015 $62,805 $62,233 $54,508 $54,302

Average Household Income2010 $71,480 $71,525 $62,756 $62,2772015 $71,343 $71,400 $62,740 $62,224

Per Capita Household Income2010 $26,406 $26,438 $24,256 $23,820

2015 $26,241 $26,308 $24,196 $23,717

2010 Household Income DistributionUnder $25,000 10.8% 11.3% 15.7% 17.1%$25,000 - $50,000 23.6% 23.1% 25.7% 26.8%$50,000 - $75,000 29.1% 28.8% 27.4% 25.8%$75,000 - $125,000 28.7% 28.3% 24.0% 23.6%Over $125,000 7.7% 8.4% 7.2% 6.7%

USPS Business Deliveries2010 147 390 1,070 2,333

5 Mile Population

65,432

79,71486,856

2000 Census 2010 Estimate 2015 Projection

2010 Household Inc. Distribution - 5 Miles

17.1%

26.8% 25.8%23.6%

6.7%

Under

$25,000

$25,000 -

$50,000

$50,000 -

$75,000

$75,000 -

$125,000

Over

$125,000

Number of Households - 5 Miles

24,499

30,054

33,406

2000 Census 2010 Estimate 2015 Projection

This document may not be reproduced in part or in whole without the express written permission of NAI Avant LLC.Source: Geolytics and USPS Delivery Statistics. 1


8/13

Demographic ProfileSunset and Hope FerryLexington, South Carolina

2010 Dist. by Race 1 Mile 2 Miles 3 Miles 5 MilesWhite 92.0% 92.3% 90.6% 85.0%Black 4.7% 4.8% 6.4% 11.7%Native American 0.1% 0.2% 0.2% 0.3%Asian 1.9% 1.6% 1.6% 2.0%Pacific Islander 0.0% 0.0% 0.0% 0.0%Two or More Races 1.2% 1.1% 1.1% 1.0%Hispanic 3.2% 3.5% 3.9% 3.7%

2010 Age Distribution0 to 9 13.7% 13.3% 13.0% 12.4%10 to 19 16.3% 15.8% 15.0% 14.3%20 to 29 12.6% 12.6% 12.6% 12.7%

30 to 39 12.2% 11.9% 12.0% 11.8%40 to 49 17.6% 17.0% 16.3% 15.3%50 to 59 14.7% 15.1% 15.0% 15.2%60 to 69 7.9% 8.6% 9.3% 10.4%70 to 79 3.3% 3.7% 4.3% 5.0%80 Plus 1.7% 2.0% 2.5% 2.8%

Median Age2010 43.6 44.8 44.9 45.62015 44.4 45.5 45.8 46.3

2010 Educational AttainmentNo H.S. Diploma 5.7% 6.5% 9.2% 10.4%

High School Grad. 17.5% 18.5% 23.2% 23.3%Some College 26.0% 24.5% 24.0% 23.2%Associates Degree 11.7% 11.0% 10.8% 10.1%Bachelors 26.8% 27.2% 23.0% 22.9%Grad. or Professional 12.4% 12.3% 9.8% 10.1%

2010 Housing ProfilePop. In Group Quarters 6 58 259 1,574Housing Units 1,048 3,397 7,995 29,564

Owner Occupied 81.7% 80.7% 77.7% 77.0%Renter Occupied 13.5% 13.3% 16.0% 17.4%Vacant 4.9% 6.1% 6.2% 5.6%

2010 Age Distribution - 5 Miles

12.4%

14.3%

12.7%11.8%

15.3% 15.2%

10.4%

5.0%

2.8%

0-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80+

2010 Population Distribution - 5 Miles

85.0%

11.7%

0.3%

2.0%

1.0%

3.7%

0.0%

White

Black

Native American

Asian

Pacific Islander

Two or More Races

Hispanic

2010 Educational Attainment

Adults 25 Years and Older- 5 Miles

Some College

23.2%

Bachelors22.9%

Grad. or

Professional

10.1%

Associates

Degree

10.1%

No H.S. Diploma

10.4%

High School

Grad.

23.3%

This document may not be reproduced in part or in whole without the express written permission of NAI Avant LLC.Source: Geolytics and USPS Delivery Statistics. 2


9/13

This document may not be reproduced in part or in whole without the express written permission of NAI Avan

June 14

Overview

The Lexington market area located in the western portionthe Columbia, South Carolmetropolitan area. It is boundon the north by Lake Murray, the south by Interstate 20, on west by Calks Ferry Road and east by the Saluda River. Tgeographic and economic cenof the market is the Town Lexington. The area is one of

fastest growing areas in Greater Columbia area, secoonly to the Northeast Richlamarket. It is also one of the three in household income. Tprincipal assets of this market (1) the Lexington 1 school distwhich is widely considered onethe top in the state; (2) extensLake Murray shoreline;

numerous employers located inimmediately adjacent to the mket; and (4) easy access to region via Interstate 20, US 3US 1, and SC 6.

Land Pricing and Rents

Land prices and rents are retively high within the Lexingmarket area. Sites for single fa

ily residential development adifficult to find and command strongest prices in the regiPrime sites for banks and restarants are selling for up to $30square foot and Class A smshop retail rents are up to $25square foot.

LexingtonMarket Overview

Table 1: Real Estate Pricing in Lexington Market Area

Land Use Price

SF Development Tracts (Acre) $40,000 - $50,000

Retail/Bank Site (S.F.) $10 - $30

Medical or Office Site (S.F.) $3.50 - $7.75

Multifamily Tract (Acre) $50,000 - $80,000

ndustrial\Warehouse Site (Acre) $45,000 - $75,000

Class A Small Retail Rent (S.F.) $12 - $25

Class A Industrial Rent (S.F.) $4.25 - $5

Class A Office Rent (S.F.) $16 - $18


10/13

Population

Since 2000, the Lexington marpopulation expanded by 42%adding an average of 1,260 psons a year. By the year 2014, market is projected to reanearly 49,000 persons.

Geographically, the populationconcentrated in and around Town of Lexington. Howeverthe past few years, growth hspread westward to the Highw204 corridor and more receneastward along US 378 betweI-20 and the Town of Lexington

The Lexington market is a retively young area. Twenty-sevpercent of the population wunder 20 years of age in 207.5% were over the age of

years. Of the remainder, the sgle largest age cohort was psons between 40 and 59 yearsage at nearly a third of the poplation.


Figure 2: 2010 Age Distribution

12.3%

14.2%

12.3% 11.9%

16.1%15.4%

10.1%

4.8%

2.8%

0-9 10-19 20-29 30-39 40-49 50-59 60-69 70-79 80+


June 14

Figure 1: Population and Households 2000 - 2015

10,770

16,34319,439

29,718

42,305

48,598

2000 2010 2015

Households Population


11/13

Residential Developmen

Between 2000 and 2009, annual average of 800 housunits were permitted in tLexington market with a high1,475 in 2006. Until 2006, the vmajority of permits were issufor single family units. Howevin 2006 635 multifamily units wpermitted. Another 464 were pmitted in 2007.

The most significant changethe Lexington market over the lfive years is the addition of masingle family residential develoments east of the Town Lexington. There are now active single family subdivisioeast of the Town - largely duethe access to sewer. On the wside, there are also many n

developments with the majoconcentrated around the SC 2corridor. This corridor is attractbecause it has easy access to tTown of Lexington, the maemployers nearby and Interst20 access via SC 204. Assuman average of 600 new homesyear are permitted, there is aba 5 year supply of lots availabl



June 14

Table 2: Residential Development Planned or Under Construction

Development NameNumber of Housing Units

Today Build Out

Saluda River Club 57 450

Persimmon Grove 268 447

Heritage Farms 190 400

Summer Lake 36 300

Wellesley 170 257

Vintners Wood 60 228

The Mill 136 193

Settlers Point 132 168

Dawsons Park 68 160

Bonhomme Green 20 126

Caroline Springs 79 113

Others 461 1,314

Total 1,480 4,669

Figure 3: Housing Units Permitted

432 460583

710571

696 840 814573

495

491

627690

768

1,475

1,278

595

495

817770

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Permits Total Units Permitted


12/13

Income

The Lexington market is oneColumbias most affluent suburThe average household incomethe Lexington market is estimaat more than $67,000.

About a tenth of all househohad incomes greater th$125,000 in 2010. Another quter were between $75,000 a$125,000.

Employment

Major industrial, office, and wahouse/distribution employers predominantly distributed alothe Interstate 20 corridor. Maretail employment is clusteralong Sunset Blvd. (US 37Government employment is c

centrated within the Town Lexington - the county seat.

Major employers in Lexington concentrated in manufacturitrade, and government sectoNotably absent is the presenceoffice buildings. However, maof the markets residents comute into the office clusters in tDowntown Columbia and

Andrews markets.


Figure 4: 2010 Household Income Distribution

17.3%

21.7%

24.9%26.0%

10.0%

Under $25,000 $25,000 -$50,000

$50,000 -$75,000

$75,000 -$125,000

Over $125,000


June 14

Table 4: Major Employers in or near the Lexington Market

Company Industry Employment

Michelin Tire Manufacturer 1,650

Lexington One School District Public Education 1,400

Lexington County Government 1,000

Carolina First Technology Center Financial Services 750

US Food Service Food Distribution 600

Southeastern Freight Freight Distribution 614

Cooper Tools Power Tools 500

Prysmian Optic Cable 375

Momentum Logistics Freight Distribution 350Walter P. Rawl and Sons Vegetable Products 250

Medical Services of America Medical Services 230

nland Paperboard and Packaging Packaging Manuf. 186

Food Services Inc. Food Distribution 128


13/13



Commercial Activity

The US 378 (Sunset Blvd.) Corridorhas been the most active commercial corridor in Lexington for past five years. Driven by the surrounding residential growth, the growth of the Lexington Medical Cenand the expansion of utilities, this area has seen a variety of retail and medical office space and wahouse/distribution appear in the past few years. This trend should accelerate in the next few years with trecent opening of Lexington Pavilion - a 230,000 square foot Target anchored center and the redevelopmof the former Corley lumber mill.

The US 1 (E. Main Street) Corridorhas a new building supply store and two apartment complexes. A maretail site is reserved on the east side of the US 1/Interstate 20 interchange although there does not appe

to be any immediate plans to begin development.

The SC 204 Corridoris defined by its three principal intersections with US 1, US 378, and I-20. This ais at the center of rapid residential development west of the Town of Lexington. It is anchored by LexingHigh School and the Lake Murray Shopping Center. A Publix anchored shopping center is under constrtion at the intersection with US 378 that should open in early 2011.

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Corley Mill Development Plans May 9 2011

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