University Plaza property on sale for $5.5 million

Macy Holloway

Updated Wednesday March 11.

The University Plaza property has been listed for $5.5 million by primary holder Ramsey Holmes.

Holmes is the primary agent for University Plaza Incorporated and his family has owned the land there since they built “College Boro” (The University Plaza) in 1965. The property has been listed as for sale through Statesboro Properties since Feb. 11, 2015.

According to Holmes, Georgia Southern University first attempted to purchase the University Plaza 30 to 35 years ago.

“The university actually offered to buy it back when Dale Lick was there for an agreeable price, but we just weren’t looking to sell,” Holmes said. Dale Lick was GSU president from 1978-1986.

A second attempt of purchase was made by GSU for the University Plaza in late 2014 for $3.5 million, Holmes said.

Rob Whitaker, Vice President of Business and Finance, stated that at no point in time did the university attempt to purchase The University Plaza. According to Whitaker, in full disclosure, they did sit around a table in Spring 2014 and discussed purchasing the site, but didn’t ever officially make an offer.

Whitaker said he wanted assurance that if they purchased the property, current leases would be able to be terminated as to relieve the university of any liability from the businesses.

On the Statesboro Properties website, the property is listed as containing seven different bar and grilles with alcohol licenses, restaurants and a convenience store.

The entirety of The Plaza includes Shenanigans, Charlie’s Chicken, Rum Runners, Fast ‘N Easy, Oriental Express and The Tavern. Henry’s barbershop and the soon-to-be-open Zaxby’s are not property of University Plaza Inc.

Holmes said his reason for selling the property is that he is looking to retire and that the property has been in his family for long enough.

According to Holmes, no serious offerings that he would be willing to consider have been placed since the property was put on the market.