About Avalon at James Island
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Avalon at James Island, a 273-unit newly constructed apartment community located in Charleston, SC. Boasting top-of-market amenities and features, Avalon at James Island is the premier multifamily asset of James Island, a submarket defined by blue chip demographics and a plethora of proximate lifestyle amenities including Downtown Charleston and Folly Beach just minutes away. Further highlighting the assets preeminent location, the adjacent Harris Teeter anchored James Island Shopping Center provides unmatched convenience to myriad retail options within walking distance. Increasing barriers to entry within the submarket will provide ideal multifamily fundamentals over the next 5 years as the population is projected to outpace new deliveries by 5 to 1 within a 3-mile radius of the asset. This lack of new deliveries, coupled with an increasingly affluent millennial renter base whose household incomes will average $110K by 2025, will create an extremely favorable rent growth environment over the hold period. With stabilization imminent, the property offers an outstanding opportunity to invest in a newly built, institutional-quality asset that can close the substantial delta to downtown rent levels through 2nd generation leasing and capture nearly $1000 ($1.00 PSF) in headroom.