The Shoppes at Montague Corners
Grocery & Fitness Anchored Center
96.4 Occupancy
GLA: 106,518 SF
High-Growth Area
Strong Sponsorship
Newly Renovated Asset
Montague Corners is a 106,518-sf grocery/Planet Fitness anchored shopping center in North Charleston, South Carolina, that recently underwent a comprehensive $4 million renovation in 2023.
Renovation work included a new building façade, restriped and resealed parking lot, and significant landscaping upgrades. The Property benefits from strong visibility and accessibility along Dorchester Road, a heavily trafficked retail corridor with over 28,200 vehicles per day (“VPD”). The property's location, just 0.5 miles from Interstate 526 (79,700 VPD), provides outstanding regional connectivity. The in-place rent roll is 18.0% below market, with a WALT of 3.47 years, presenting an opportunity for long-term leasing upside through mark-to-market leasing activity. The acquisition of Montague Corners presents a compelling opportunity to purchase a well-located grocery anchored center in a high-growth submarket with no new retail supply and a booming population.
Tenant mix made up of e-commerce resistant businesses
Located in markets with high growth or high barriers to entry
Proximity to activity hubs such as universities and hospitals
Large number of leases that are triple net with annual rent increases
Smaller spaces provide a larger pool of tenants and demand higher PSF rents
F E A T U R E D P R O J E C T S
