PROPERTY ANALYSIS

1000 North Pine Street

308,601 Total population within 15 miles

$84,725 Average household income within 15 miles

40.2 Median age within 15 miles

± 27,600 VPD

North Pine Street

Property highlights

±180,000 sf building (55,000 sf vacant)

Highly visible location

Ample parking

Close proximity to main branch of Spartanburg Regional Hospital and Wofford University

Strengths

  • Located at signalized intersection
  • Close proximity to downtown
  • Ample parking available
  • Highly accessible location with easy access from I-85 and Business I-85
  • Excellent daytime population (Spartanburg Regional, Wofford and Converse)
  • Located on major artery from I-85 to downtown
  • High traffic counts

Weaknesses

  • Current tenant mix
  • Shopping center layout (i.e. breezeway)
  • Inconsistencies with storefront signage, lighting and landscaping
  • Dated façade and parking lot
  • High vacancy
  • Lack of pylon signage opportunities for tenants

Opportunities

  • Façade, lighting, and parking area improvements
  • New tenant cultivation achieving increased rents
  • Reactivation of common areas
  • Additional outparcel capabilities
  • Install pylon sign and establish signage standards
  • Outdoor amenity adjacent to right endcap
  • Tenant relocation possibilities
  • Implementation of new retail strategy

Threats

  • Nearby competition
  • Security concerns
  • Tenant access to capital
  • Shrinking retail footprints
  • Emphasis on e-commerce business
  • Current cost of capital/economic conditions