Forestbrook Outparcel

Myrtle Beach, South carolina

 

Adjacent to Forestbrook Village PMAT also acquired 7 acres of developable land that can be subdicided into 4 outparcels. 

 

The forestbrook Outparcels share the main access point to Tuscany, a DR Horton project delivering 600 additional homes by end of 2015, and the center is ¼ mile from an additional housing development delivering 110 homes in phase I with around 500 planned in total. 
 
The center is located right off of 501 at Forestbrook Road – with around 85,000 combined traffic counts—and it has a strong captive audience with an established neighborhood area as well as many new homes immediately surrounding the site both currently and coming online soon as referenced above.

     PMAT was able to purchase this asset from an out of town owner with no other assets in the market in December 2014 at 20% of the assessed value. We are now looking to ground leases this prime location.