Daniel Village sold to local real estate firm

 

Ownership of the Daniel Village shopping center is now in local hands.

Blanchard & Calhoun Commercial purchased the Augusta center at 2803 Wrightsboro Road last week from New York-based Equity One.

Though terms of the deal were not disclosed, Equity One received 10 offers on the 16-acre property, according to the Cassidy Turley firm, which facilitated the sale for Equity One.

Messages left for Blanchard & Calhoun representatives were not immediately returned.

“Having local management allows us to be more responsive to potential tenants and to utilize our knowledge of the dynamics of the local real estate market,” Blanchard & Calhoun Vice President John Mills said in a company statement.

There is about 180,000 square feet of retail space within the commercial development, which is anchored by a Bi-Lo grocery store and Rite Aid pharmacy.

According to city property records, about half of the center was built in 1956, with phases added in 1968 and the 1990s. Older portions of the development were renovated in the early 1990s, and the center recently received a facade facelift.

Blanchard & Calhoun Commercial, in a news release, said it is planning a long-range restructuring of the 16-acre property across from Daniel Field Airport.

Equity One, which purchases and develops shopping centers in mostly urban communities, bought Daniel Village in 1998 for $12.2 million. The shopping center is now valued at $11.5 million, according to city records.

 

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