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Evans center escapes foreclosure sale

Posted: February 6, 2013 - 1:09pm  |  Updated: February 10, 2013 - 12:05am
The Shoppes at Camelot shopping center in Evans faced foreclosure, but an agreement was reached Tuesday between the bank and property owner. Other shopping centers in Columbia County have seen a similar fate in recent years.  Photo by Jim Blaylock
Photo by Jim Blaylock
The Shoppes at Camelot shopping center in Evans faced foreclosure, but an agreement was reached Tuesday between the bank and property owner. Other shopping centers in Columbia County have seen a similar fate in recent years.

An Evans shopping center in danger of foreclosure was pulled from the auction block Tuesday morning.

An agreement between Bank of Amer­ica and the owner of Shoppes at Camelot was reached the morning it was scheduled to be auctioned off at the Appling courthouse, said Pam Bald­win, a vice president for Blanchard and Cal­houn Commercial who handles leasing in the center.

The bank and the shopping center owner, Detroit-based DH-Evans LLC, are working on new terms for the property at 4446 Washington Road, across from the Evans Wal-Mart, Baldwin said.

The plaza has some vacancies, but leases for new retail and restaurant tenants could be secured in the next two months, Baldwin said.

Businesses at the shopping center include Shane’s Rib Shack, American Family Insurance, Mainstream Boutique and Posh Salon.

Shoppes at Camelot was purchased for $1.8 million in 2006 and is now valued at $3.2 million, according to Columbia County records. The bank’s original mortgage note in January 2007 was $4.9 million, revised to $4.8 million in 2009.

Representatives for Bank of America and DH-Evans were unavailable for comment.

The Liberty Square shopping center, which is next to Shoppes at Camelot, faced foreclosure in February 2010. Though the bank and owner worked toward a resolution, Wells Fargo took over the property by the end of 2010 and sold it months later, according to county records.

In Martinez, Bobby Jones Plaza, which once housed Mike’s Fur­ni­ture, was set to be auctioned off in June 2012, but that was postponed.

Several centers, including Shoppes at Camelot and Liberty Square, were built at the same time, causing the area to become overbuilt, said commercial realtor Lionel Prather, the vice president of Meybohm Commercial.

“There was a ton of supply and not a lot of demand on retail space,” he said.

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Comments (11)

soapy_725

Over development doesn't seem to bother EG.

If you can believe your eyes. Strip mall heaven has replaced
the "auto free zone" of shops at Evans(towne) master plan. Wow. Turning building on their side just didn't do it. What was looking like ARC's Washington Rd. is now looking like ARC's Gordon Hwy. Complete with shacks and full blown trash. But hey, the concrete and asphalt lobby is laughing all the way to the bank.

Andrew Cowan

It is a great moment

It is a great moment for them, they should now consider making all efforts to make this place better. However, they can also consider opening an online store. These days one can find grocery, jewelry, gadgets even wholesale salt online.

benjohnson

reply

This site is so informative and useful as it shares the latest news on the happenings around us. This news about the escape of Evans center from the foreclosure sale is also useful to people like me. My prayers are with you stop snoring devices

Robert Harris

They have been given the chance

They have been given the chance to revive their place and they should take advantage of this opportunity. However, they can also start selling their products online, these days from grocery to badge clips every thing is available online for sale to make shopping convenient for shoppers.

annie27

Everyone is looking forward

Everyone is looking forward to see what kind of new shops will emerge in the shopping center, hopefully they will have more to offer in terms of fashion. Finding something like the western belt buckle in their new boutiques would be refreshing!

Andrew Cowan

They should utilize the

They should utilize the opportunity they have been given and now their focus should be on providing better products and services. They also have to promote aggressively and for this purpose they should use custom feather flags.

Paul Ricca

After getting this

After getting this opportunity they can certainly hope to grow bigger in future. Now the availability of online stores could indeed help you find all sorts of apparels, accessories in a jiffy. For example, if you need non iron dress shirts then you can easily find it online.

Robert Harris

They have been given a big opportunity

They have been given a big opportunity here to save their place, so they should take it seriously and work hard to achieve the success they deserve. They can also start offering their products online. These days one can find all sorts of products including designer handbags online.

Andrew Cowan

The owners must be feeling

The owners must be feeling relieved now, it is a new beginning for them. So now they have to be prepared to give a makeover to the old shopping center and make it a better place for the shoppers. They should also include shops for selling designer clothing , jewelry and fun accessories like feather boas.

Paul Ricca

Now they have the time to

Now they have the time to upgrade their facility so that they could grow bigger. However, they could also go online to increase their oversea sales, it would help them earn more profit.

Kevinosbern

reply

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