Hobby Lobby, Marshalls sign leases - Chronicle Independent
Nov 29, 2018Kershaw County Registrar of Deeds, Hobby Lobby and Marshalls are coming to Camden.The two companies signed the leases with BMS Camden Associates LLC, c/o Myers Brothers Associates LLC of Atlanta. Copies of the leases were forwarded to the Fletcher Bright Company of Chattanooga, Tenn.On Aug. 31, BMS purchased the entire shopping center -- including the already annexed portion where Chick-Fil-A is located -- for “$5 and other good and valuable consideration” from Wateree Associates LLC. According to an affidavit of consideration attached to the deed, BMS is paying Wateree $5.1 million for the commercial property.The Myers and Bright names link BMS to Bright-Meyers 2001 LLC of Georgia, the company for which the city of Camden offered an incentive package to redevelop the River Oaks Shopping Center, the former home of Kmart.During its June 26 meeting, Camden City Council unanimously approved not only the incentive package, but first reading of an ordinance that would annex the shopping center into the city. The city has yet to take up second reading of the annexation.The city’s incentives to Bright-Meyers include paying the costs of constructing and installing utility infrastructure, including relocating water and sewer mains and extending such services to the property; rebating water and sewer tap, meter, permitting, impact, zoning, plan review and building permit fees, which Bright-Meyers would pay up front, after the completion of the project and within 30 days of being issued a certificate of occupancy; and a façade improvement grant of up to $30,000.BMS’ purchase of the shopping center lists the property in three parcels totaling 14.8 acres. The total area of the retail buildings (not including Chick-Fil-A) is 146,732 square feet.To purchase the shopping center and conduct any necessary renovations prior to Hobby Lobby, Marshalls and any other prospective tenants moving in, BMS took out a $9.687 million loan from First Tennessee Bank of Chattanooga. In the mortgage, also filed at the govern...