|SQ. FT. Available||21,626|
Located in Historic Downtown Savannah on Johnson Square, which is the first square in Oglethorpe’s original plan. Johnson Square is known today as the hub of the financial district and most lending institutions with a presence in Savannah are located here. The property is surrounded by Bryan Street to the North, Bull Street to the West and Drayton Street to the East that includes a number of parking options for patrons. In addition, many tourists visit Johnson Square on their way to nearby attractions on Broughton Street, Bay Street and River Street, which are 2 blocks away.
The subject property represents a gross square footage amount of +/-24,699 square feet, which is situated on +/-7,920 square feet of land and 100% occupied by Bank of America with a lease expiration date of 6/30/2023 and tenant renewal options thereafter. Net Operating Income for 2018 is projected at $220,368, which is considered below market based on a rentable square footage amount of +/-21,626 at $10.19 per square foot annually. Bank of America has 10 locations throughout the Savannah market with the subject location representing 39% of total deposits.