Press Release: Irmo, SC Redevelopment Seeking a Medical Use
PRESS RELEASE:
IRMO, SC REDEVELOPMENT SEEKING A MEDICAL USE
Columbia, SC – (September 25, 2017) – Boca Raton, FL-based PEBB Enterprises, is actively pursing new tenants for High Pointe Center, the newest redevelopment project in Irmo, SC, an affluent suburb northwest of Columbia along Lake Murray Boulevard.
PEBB acquired the 61,935 square foot center in the 3rd quarter of 2016 with an occupancy rate of approximately 12% and is planning to make a significant investment into the site infrastructure and façade to attract new tenants.
The company has a proven track record of turning around centers by introducing a healthy mix of mutually beneficial uses, and in today’s marketplace, that might include different asset classes.
In the case of High Pointe Center, PEBB has identified through a feasibility exercise that the highest and best use for the majority of the property would be a medical use. Given the location and close proximity off Interstate 26, a healthcare facility would allow for the most appropriate mix of medical tenants situated in the 50,000 square foot vacant space.
PEBB Enterprises Director of Development, Eric Hochman said, “There’s a continuous emergence of healthcare and medical uses coming into retail centers and our location is perfectly positioned to support a growing healthcare corridor currently being developed by some of the large regional hospital systems– we think medical would make a great fit.”
“Redevelopment projects are extremely satisfying because they give us the chance to not only improve the offering in a community but also to provide a higher quality of service” said PEBB President Ian Weiner. “High Pointe Center will not be the exception.”
ABOUT PEBB:
PEBB Enterprises, based in Boca Raton, Florida, is a full-service, vertically integrated private equity real estate investment company specializing in the acquisition, development, construction, operation and management of commercial property. Since its formation in 1973, PEBB has remained a private, family-owned and operated company that takes great pride in maintaining quality properties and cultivating superior relationships with our tenants and strategic partners. For more information about PEBB visit pebbenterprises.com.
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