SVN | Southgate Realty, LLC Closes 29K+ SF Lease, New Business Coming to Hwy. 98 Corridor
SVN | Southgate Realty, LLC recently closed a 29,264 square foot lease in a premier retail location at 4600 Hardy Street along the Highway 98 corridor in Hattiesburg, Miss. This closing is the largest retail space leased west of Interstate 59 in Hattiesburg in over two years.
In January of 2019, Gattitown, a family-friendly pizza buffet and arcade, closed its doors. Since then, many have wondered what could replace the entertainment facility at 4600 Hardy Street.
Chamberlan Carothers, CCIM, CPM and Joshua Blackledge, CCIM, the SVN | Southgate Realty, LLC listing agents on the property, noted the owner had several specific lease requirements and oftentimes a space that large can be difficult to find a replacement retail opportunity. SVN | Southgate Realty, LLC advisors utilized their leasing and management experience to assess what tenant types would fit the lease requirements, while still maintaining a tenant balance within the development. Their efforts resulted in a transaction that closed in under one year.
The leasing advisor, Steve Floyd, also of SVN | Southgate Realty, LLC, secured a tenant that will bring new energy and revitalization to the development while still meeting the ownership’s requirements for a national brand and lease security. Currently, details about the future tenant cannot be disclosed, but an announcement will be made by the tenant at their discretion.
“While I am unable to release specifics of who will be moving into the property, Hattiesburg families will be excited when they do make their announcement,” said Carothers of the closing. “The new tenant will bring new jobs to the market and create a positive economic impact. We at SVN | Southgate Realty, LLC are thrilled to be part of helping the Gulf South take steps to reach its potential.”
SVN | Southgate Realty, LLC, looks to expand commercial real estate investment across the Gulf South, showcase available assets through their global brokerage reach, and increase value with best-in-class property and asset management.
ABOUT SVN | SOUTHGATE REALTY, LLC
SVN | Southgate Realty, LLC, is a full-service commercial real estate firm specializing in asset management and investment brokerage. The SVN® brand is a globally recognized commercial real estate entity united by a shared vision of creating value for clients, colleagues and communities. Locally, SVN | Southgate Realty, LLC has a strong 40-year history of commercial real estate leadership in the Gulf South region.
Currently, SVN comprises over 1,600 advisors and staff working in more than 200 offices across the globe. SVN’s brand pillars represent the transparency, innovation and inclusivity that enable all our advisors to collaborate effectively with the entire real estate industry on behalf of our clients.