200,000 Square Foot Beaufort Station to be developed by The Morgan Companies

BEAUFORT, South Carolina (January 2022) – The Morgan Companies (“Morgan”) is pleased to announce the acquisition of 31 acres of land for a new 200,000 square foot shopping center with outparcels in Beaufort, South Carolina. The project will be named “Beaufort Station” and is located at the southwest corner of Robert Smalls Parkway and Parris Island Gateway.

Zach Means, of Divaris Real Estate, Inc., represented The Morgan Companies in the transaction and Mark Hall, of Judge Realty, represented the sellers.

Morgan is also pleased to announce the signing of leases with four anchor tenants for the project: Hobby Lobby, Ross Dress for Less, Ulta Beauty, and Old Navy.  

“The growth story in Beaufort, and the South Carolina Low Country in general, is just phenomenal,” said Trey Morgan, President of Morgan. “We are thrilled to bring a top tier tenant line up to Beaufort, and we’re confident the community will be proud of the project when it’s completed.”

Site work is expected to begin this quarter, and the shopping center is expected to be open to the public in the Fall of 2023.

Additional anchor tenant announcements are expected soon.

For leasing inquiries, please contact Zach Means with Divaris Real Estate, Inc. at (804) 335-0555 or zmeans@divaris.com.

About The Morgan Companies

For more than 45 years, the professionals at The Morgan Companies have produced quality commercial developments for its principals, clients, and investors. We have acquired, developed, managed, and leased over $1 billion in multi-sector assets in markets across the eastern U.S. The company has offices in Charlotte, North Carolina and Fort Lauderdale, Florida. For more information, please visit www.themorgancos.com.

Future Tenants

Hobby Lobby was founded in 1972 and currently operates 956 retail stores stocked with a treasure trove of over 80,000 arts, crafts, hobbies, home accent, seasonal, and custom framing products catering to those who seek to Live a Creative Life®.

Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (NASDAQ:ROST) company headquartered in Dublin, California, with fiscal 2020 revenues of $12.5 billion. Currently, the Company operates Ross Dress for Less® (“Ross”), the largest off-price apparel and home fashion chain in the United States with 1,629 locations in 40 states, the District of Columbia, and Guam.

Ulta Beauty (NASDAQ: ULTA) is the largest U.S. beauty retailer and the premier beauty destination for cosmetics, fragrance, skin care products, hair care products and salon services. In 1990, the Company reinvented the beauty retail experience by offering a new way to shop for beauty – bringing together all things beauty, all in one place. Today, Ulta Beauty operates more than 1,300 retail stores across 50 states.

Old Navy is a global apparel and accessories brand that makes current American essentials accessible to every family. Originated in 1994, the brand celebrates the democracy of style through on-trend, playfully optimistic, affordable, and high-quality products. A division of San Francisco-based Gap Inc. (NYSE: GPS), Old Navy brings a fun, energizing shopping environment to its customers in more than 1,200 stores around the world.