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VALUE-ADD, HIGH BARRIER TO ENTRY | LOWES HOME IMPROVEMENT SHADOW ANCHORED PORTFOLIO

$8,708,800 | 9.03%

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900 & 1600 E County Line Road
Ridgeland, MS 39157

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Features

  • Three-Building Retail Portfolio in Ridgeland, Mississippi
    • Includes Two Multi-Tenant Shopping Centers and One Single Tenant Denny’s Restaurant
  • High Barrier to Entry | Excellent Real Estate Fundamentals
    • Less Than a Quarter of a Mile Off Interstate 55 Interchange
      • Over 117,000 Vehicles Passing per Day
    • All Three Properties Sit Along a Major Retail Corridor on Signalized, Hard Corner Intersections
    • Half a Mile to Northpark Mall
      • Anchored by JCPenney and Belk | 120 Tenants | 5,400 Daily Visitors | 3.5 Million in Annual Traffic | 40.7 Percent of people in Jackson Metropolitan Area Frequent this Mall
    • Less Than One Mile to Select Specialty Hospital – Jackson | 40-Licensed Beds
    • Surrounded by an Abundance of Hotels and Retail
      • Major Retailers Include Walmart, Target, The Home Depot, Harbor Freight Tools, at Home, Tuesday Morning, Marshalls, T.J.Maxx and Much More
  • Attractive Demographics in Thriving Region 
    • Amazon to Build Distribution Center 18 Minutes North in Canton
      • Bringing 1,000 Jobs to the Area
    • New UPS Distribution Center to be Built in 2021
      • Bringing 161 Jobs to Ridgeland
    • Infill Location with High Daytime Population
      • 119,511 People Within Five Miles of Subject Property
      • Population 96,660 People Living Within Five Miles of Subject Property with an Average Household Income of $89,541\
  • North Regency Square
    • 22-Unit Shopping Center
      • Excellent Mix of Regional and Local Tenants
      • Opportunity to Add Value and Cap Rate Growth Through Leasing Remaining 33,032 Square Feet of Vacant Space
    • Anchored by Party City with Long Operating History
      • Party City has Occupied Space Since 1994 and has Four Renewal Options with Two Percent Annual Increases
    • Shadow Anchored by Lowe’s Home Improvement
    • Situated on the Signalized, Hard-Corner Intersection of County Line Road and Ridgewood Road
      • Heavily Traveled Intersection with 39,400 Vehicles Passing per Day
    • Two New Pylons Added to Center Entrances
    • Recent Uptick in Leasing Activity Includes a Newly Extended Gamestop Lease and Newly Signed Room by Room Furniture Lease for 9,000 Square Feet of Space
    • In 2019, an Estimated 164,800 Customers Visited the Center with Over 261,600 Visits*
  • Denny’s
    • Retrofitted for Denny’s in 2017
    • Adjacent to North Regency Square
    • Net Lease with Seven Years of Base Term Remaining
    • In 2019, an Estimated 63,400 Customers Visited Denny’s with Over 90,600 Visits*
  • Centre Park
    • 19-Unit Neighborhood Shopping Center
    • National Tenants Include Geico, UPS Store, and Gamestop
      • Five Tenants Have Occupied Space for Over 13 Years
    • 74 Percent Occupied
      • Opportunity to Add Value and Cap Rate Growth Through Leasing Remaining 11,068 Square Feet of Vacant Space
    • Newly Updated Facade with White Brick Masonry and New Signage
    • In 2019, an Estimated 147,600 Customers Visited the Center with Over 289,200 Visits*

*Source: Placer.ai is a Website that Provides Unprecedented Visibility into Consumer Foot-Traffic

Contact

KEVIN WIERSEMA
Associate
Tel: (630) 570-2161
Kevin.Wiersema@marcusmillichap.com

* Broker of Record: William M. David | MS# B-15586

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