S&H wins in 3 categories for the 2022 Quarter 2 CoStar Power Broker Quarterly Deal Awards
Sherman and Hemstreet received awards for four properties between three of our agents in quarter 2 of the CoStar Power Broker Quarterly Deal Awards for 2022.
Chris Farrow received the award for Augusta/Richmond County office leasesfor two properties. The first property was 2219-2235 Harrison Road NE in Thomson, GA. Expanding on its 300-plus clinics across the country, Benchmark Physical Therapy has agreed to lease 2,160 square feet of office space in Thomson, Georgia. Its new location is neighbored by Cato and in proximity to Walmart.
The second property was 935 Ronald Reagan Drive in Evans, GA. One of the nation's largest financial services firms, Fortune 500 company Edward Jones signed a five-year lease for 1,307 square feet with plans to occupy this Evans, Georgia, property once construction is completed in 2023.
Henry Hawkins also received an award for Augusta/Richmond County office leases for his property 2516 Wrightsboro Road in Augusta, GA. Pink Lemons Wholesale will take over 50% of the building and agreed to sign for a two-year term.
Charles Hock also received an award for Augusta/Richmond County property sales for this property 475 Clear Sky Drive in Augusta, GA. An individual investor bought this 150,000-square-foot warehouse that opened in 2020 at Interstate 20 and Jimmie Dyess Parkway in Augusta, Georgia. The property is anchored by FLSmidth AFT, a global manufacturer and supplier of baghouse filter bags that leases 87,500 square feet. The company has a ten-year master lease and currently pays 100% of the rent roll with 2% annual increases on a $7-per-square-foot rent rate. Occupancy is currently reflected at about 58%, as the tenant built an additional 62,500 square feet of space for future growth, though that space is currently vacant. The seller reports a net operating income of $997,500 based on current lease rates yielding a 5.25% capitalization rate.
Sherman and Hemstreet wants to congratulate all of our agents for their outstanding performances this past quarter!