Perlis Plaza Shopping Center – Americus, GA

1500 E Forsyth St, Americus, GA 31709, USA

Sands Investment Group is pleased to exclusively offer for sale Perlis Plaza Shopping Center, a 165,315 SF regional shopping center located at 1500 E Forsyth Street in Americus, GA. Priced substantially below replacement cost, the property presents a compelling value-add investment opportunity with immediate upside through the lease-up of several vacant suites within a nationally anchored center that serves as the premier shopping destination in the Americus market.

Perlis Plaza represents a rare chance to acquire a generational asset that has served as a retail cornerstone of Sumter County. The center offers meaningful near-term value creation through the absorption of multiple small-shop vacancies, complemented by a durable tenant roster that includes nine national credit tenants with an average tenure exceeding 25 years. The combination of stable in-place income and lease-up potential creates an attractive risk investment opportunity.

Property Overview

  • Established National Tenants: In addition to Belk (26% of GLA), Perlis Plaza features a roster of eight additional nationally recognized brands. All of which have occupied the center for 10+ years.
  • Well-Below Replacement Cost: Price/SF less than $50.00/SF.
  • Long-Standing Tenants: 99% of occupied GLA has 5+ years of tenancy and 66% has 15+ years; Belk (1988) and Sherwin Williams (1986) each have 35+ consecutive years in their suites
  • Lease-Up Opportunity: Smaller vacant boxes (13 units/20% of GLA) that range from 1,000 SF –  7,000 SF offer immediate upside to complement an already stabilized, nationally tenanted center.
  • OP Development: Two out pads available for development along E Forsyth Street.
  • Mark-to-Market Opportunity: Several long-term tenant leases coming due in the next 3 years with no remaining options. In-place rents averaging $6.51/SF vs. CoStar market rent of $13.00/SF.
  • Dominant Retail Artery: Perlis Plaza serves as the primary shopping center destination for Sumter County.
  • Tenant Financial Reporting: Belk reports sales annually; Hibbett Sports, Citi Trends, and others report monthly.
  • No Single-Tenant Exposure: The largest rent contributor, Belk, represents only 16% of the total in-place revenue.

Retail Market Overview

  • Main Retail Corridor: 1-mile retail corridor includes Chick-fil-A (new-build), McDonald’s, Wendy’s, Burger King, Zaxby’s, Food Lion, ALDI (2025), Synovus Bank, and others.
  • Significant Capital Investment: Over $1.3B invested in Americus since 2021, led by Invenergy + Samsung’s “Americus Solar” (~$700M, projected largest solar array east of the Mississippi), NanoPV Solar ($36M, 500+ jobs), and Tamarack Foods’ first location outside Idaho.
  • Retailer Confidence: ALDI signed a lease in the adjacent center in 2025.
  • Industrial Expansion: A new 236-acre sustainable industrial park is opening adjacent to existing inventory, actively targeting renewables and sustainable manufacturers.
  • Institutional Demand Drivers: The trade area is supported by Habitat for Humanity International HQ, Georgia Southwestern State University, and South Georgia Technical College, providing a stable year-round consumer base.

In Cooperation With Sands Investment Group Atlanta, LLC – Lic. #67374 BoR: Andrew Ackerman – Lic. GA #311619

Price

$8,126,000

Cap Rate

8.25%

PREMISES

165,315 SF

YEAR BUILT

1972

RENEWAL OPTIONS

Varies

Lease Expiration

Varies

RENTAL INCREASES

Varies

BROKERS

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