Tenant: Saluda Towne Center Premises: 37,450 SF Renewal Options: 3 x 5 Years
Lease Expiration: 10/22/2021 Lease Type: NN Rental Increases: TBD
NN Retail Investment with 4 Years Remaining on Lease
Value Add Opportunity Where Ownership Can Lease 8,450 SF of Vacant Space
2016 Year End Sales were Reported at $12,376,700 Which Equates to a Healthy $426/FT
Three (3) x Five (5) Year Options to Extend
Dominate Grocery Within the Trade Area with Limited Competition
BI-LO Recently Exercised its First Option Showing Commitment to Site
Saluda Towne Centre has Operated as a Grocer for Over 20 Years
Surrounding Tenants: Fred’s Home Discount Store, ACE Hardware, CVS, Family Dollar, Pizza Hut and Advance Auto Parts
BI-LO is a supermarket chain owned by Southeastern Grocers. As of October 2015, the company operates 164 supermarkets under the BI-LO brand in South Carolina (123 stores), North Carolina (24 stores) and Georgia (17 stores). The BI-LO headquarters were previously located in Mauldin, South Carolina, near Greenville. However, they merged into Southeastern Grocers headquarters which is headquartered in Jacksonville, Florida, United States currently.
BI-LO was founded in 1961 by Frank L. Outlaw. The original name was Wrenn & Outlaw. The company was officially named BI-LO in 1963 after Outlaw conducted an employee store-naming contest to develop the “brand.” His secretary, Edna Plumblee, won the contest by submitting the name “BI-LO.”Store front BL.pngBI-LO was sold to Ahold, a Dutch retail food conglomerate, in 1977. In 1994, Ahold purchased Red Food Stores, Inc. and merged its locations (around 55 of them) in Georgia, Alabama, and Tennessee into BI-LO the following year. In 2001, Ahold purchased the Birmingham, Alabama based Bruno’s Supermarkets chain and combined its operations with BI-LO.