Promenade Plaza 

1705 Norman Drive | Valdosta, Georgia 31601
Offering Memorandum
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​Contact Brokers

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James Medefind
Senior Vice President Investments
James.Medefind@MarcusMillichap.com
(O) 813-387-4788
FL #SL3216834

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John Brigel
First Vice President Investments
John.Brigel@MarcusMillichap.com
(O) 813-387-4785
FL #SL3080253

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James Garner, CCIM
First Vice President Investments​James.Garner@MarcusMillichap.com
(O) 813.387.4796
FL #SL3273659

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Jim Shiebler, CCIM, CEC

First Vice President Investments

Jim.Shiebler@MarcusMillichap.com

(O) 239.340.7811
FL #SL3347780

​Highlights

  • Promenade Plaza is located directly across the street from the Valdosta Mall, an indoor mall totaling over 500,000 square feet. The Valdosta Mall is anchored by dozens of national tenants.

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  • Outparcels (NIC) to Promenade Plaza include McDonalds, Panera Bread, Sonny’s BBQ, Mori Japanese Steakhouse, all of which have high customer counts and provide excellent crossover traffic.

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  • With average tenancy lasting more than 16 years and the average rental rate being just over $8.00 per square-foot, substantial upside is available for an investor to both increase rents and value.

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  • The immediate submarket has seen an average occupancy rate of over 96 percent during the last 5-years.

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  • Major Employers in Valdosta are all essential businesses including Moody Air Force Base, South Georgia Medical Center, Valdosta State University and local government agencies. With recession proof industries and economic drivers, Valdosta’s economy is one of the most stable markets in the country.

​Description

Marcus & Millichap is pleased to exclusively offer for sale Promenade Plaza, a 64,523-square-foot shopping center located in Valdosta, GA. The subject property is 100 percent leased with a premier tenant mix. Promenade Plaza is located directly across the street from the Valdosta Mall, an indoor mall totaling over 500,000 square feet. The Valdosta Mall is anchored by dozens of national tenants and provides excellent crossover traffic. With average tenancy lasting more than 16 years and the average rental rate being just over $8.00 per square-foot, substantial upside is available for an investor to both increase rents and value long-term. Major Employers in Valdosta are all essential businesses including Moody Air Force Base, South Georgia Medical Center, Valdosta State University and local government agencies. With recession proof industries and economic drivers, Valdosta’s economy is one of the most stable markets in the country.