Welcome to my first blog post for Locale—mostly about real estate in Beaufort and the lowcountry. Fall is here and the summer heat is gone, the weather has pretty much been perfect—highs in the mid to upper 70s and lows in the low 60s—you get the idea. We have had a few weeks with strong north winds and Hunting Island State park has suffered some serious erosion—but it sort of looks like Fripp Island (next beach down) picked up some sand. That beats a sand migration to Georgia.
Commercial real estate is getting more active in and around Beaufort. Rumors of a Target coming to town and the progression of Beaufort Town Center have a number of national tenant representatives looking at opportunities. So far, in addition to a attorneys and wealth management folks, Town Center is getting a Pizza Inn, a micro-brewery and an outdoor outfitter. A Moe’s Mexican restaurant, a real estate firm and a Rita’s are already in place. Note to all - with addition of two more Mexican eateries—including San Jose on Lady’s Island (which is very good) there are now about five–excluding Taco Bell–we are good. Please, no more.
Downtown, the several commercial properties are either under contact or have recently sold and closed, including one of the most impressive antebellum mansions on Bay Street known as the Anchorage. Asking price was $1,400,000 – closed at $1,365,000; and a retail storefront (723 Bay) with 2555 sqft is under contract – asking price is $557,600.
Thanks for reading my first post. Please look again soon. Next time I will start to tackle the residential market.
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