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iacas

Augusta National Buys a Shopping Center

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The Augusta National has picked up $28 million worth of real estate this spring.
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The Augusta National Golf Club has acquired the National Hills shopping center for $26 million, making it the club’s priciest single real estate purchase to date.

The April 13 purchase of the shopping center – which sits across Washington Road from the club’s northwest boundary – was preceded by the March 27 acquisition of five former home tracts in the Jamestown neighborhood on the club’s southwest side for $2.2 million.

More parking? 🙂

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That's my guess; a parking lot for 2 weeks of the year and the other 50 weeks has rental income from the stores to carry it.

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4 hours ago, paperclip said:

That's my guess; a parking lot for 2 weeks of the year and the other 50 weeks has rental income from the stores to carry it.

I think the stores are goners.

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23 minutes ago, iacas said:

I think the stores are goners.

They're still going to have to honor the lease agreements already in place. If they're not going to renew, it might be years from now before they're gone.

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The lease agreements might be up soon, or have contingencies for a sold property, etc.

The buildings are goners. Maybe not by July, but at some point. I’d wager sooner rather than later.

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