S A V A N N A H , G A

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Opportunity Zone

Property

Sale Price:

$3,800,000

Investment or

Redevelopment Opportunity

• 0.9256 Acres ($94.24 PSF)

• 13,562 SF ($280 PSF)

• Built in 1970 / Renovated in 2005 & 2010

• B-C Zoning

• 6 Story Structure Allowed

• 100% Lease to Savannah College of Art & Design

(July 31, 2020 Lease Expiration; No Renewal Option; ROFR to Purchase)

T H E O P P O R T U N I T Y

T H E D E T A I L S

This is a unique redevelopment or investment opportunity in the fastest growing area of downtown Savannah.

Four major developments are under construction, totaling over $350 million of investment, within 1/8 of a mile to include 440 residential units, up to 592 hotel rooms, a 488-space parking deck, supporting retail spaces, restaurant spaces and entertainment venues.

The City of Savannah permits a 6-story structure on this property, which is the maximum height allowed for new projects in this area. 1 N Fahm does not have a historic designation and can be completely redeveloped.

The property is currently leased to Savannah College of Art & Design until July 31, 2020. SCAD has no Renewal Option to extend the Lease Agreement, but does have a Right of First Refusal to purchase the property upon receipt of an offer.

1 N Fahm was built in 1970 and renovated in 2005 and 2010 by Savannah College of Art & Design. SCAD leases the property to house their jewelry department and SCADlab, which offers students 3-D printers and large photo printers for special projects. SCAD made major investments in the HVAC systems, exhaust systems and interior finishes.

T H E S U M M A R Y

THE HUE STUDENT HOUSING 646 W BAY

400 WILLIAMSONTHE ALIDA HOTEL

THE BAXLY630 INDIAN STREET

SPANDREL DEVELOPMENT

666 INDIAN ST SCAD

641 INDIAN GHOST COAST DISTILLERY

601 INDIAN THE OLMSTED

522 INDIAN ST SCAD

PLANT RIVERSIDEKESSLER COLLECTION

400 RIVER STREET

S U R R O U N D I N G D E V E L O P M E N T S

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601 INDIAN STREET (SOON TO BE UNDER CONSTRUCTION)

412 WILLIAMSON STREET (OPENING APRIL 2019)

641 INDIAN STREET

400 W RIVER STREET (UNDER CONSTRUCTION)

646 W BAY STREET

630 INDIAN STREET (UNDER CONSTRUCTION)

• CF Real Estate Services

• “The Olmsted”

• 161 units

• 6-story apartment building; two levels of structured parking (one underground)

• 1.056 Acres

• The Alida Hotel, A Tribute Portfolio Hotel

• Rockbridge Capital

• 173 Room Boutique Hotel

• Ghost Coast Distillery (Opened in 2017)

• Plant Riverside

• 4.5 Acre Redevelopment

• 670,000 SF of Entertainment and Hospitality

• 488 space parking deck

• 17,000 SF of meeting and event space

• Three, 4.5 to 5-star luxury hotels with 419 rooms

• Largest redevelopment in the history of Savannah’s Historic Landmark District

• Spandrel Development The Baxly

• 275-unit, mixed-use development

• 9,000 SF of retail

• 1.7 acres

• 7-stories

• The Hue (Built in 2014)

• Student Housing Development

• 446 beds

S U R R O U N D I N G D E V E L O P M E N T S

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F O R M O R E I N F O R M A T I O N , P L E A S E C O N T A C T :

© 2018 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. Any projections, opinions, or estimates are subject to uncertainty. The information may not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. PMStudio_December2018

William Lattimore , SIOR

First Vice President

+1 912 228 3528

william.lattimore@cbre.com

Cell: 912.596.7019

CBRE, INC.

300 Drayton Street

Suite 300

Savannah, GA 31401

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