SOLD – Centre Stage

THE OPPORTUNITY

147,000 SF Belks, Big Lots and Goodwill anchored shopping center for sale in the Nashville (MSA). The center is 100% leased almost exclusively to regional and national tenants. The offering includes a 1 acre outparcel that is ready for development. Tenants include Belk, Big Lots, Goodwill, Cato, Hibbett Sports, and more. Built-in rental escalations provide solid organic growth during an investors hold period.

THE HIGHLIGHTS

• 95% of GLA leased to strong national or regional tenants
• 100% leased with a strong occupancy history
• Recent renewals with Belk, Big Lots, Cato, and Hibbett Sports
• Goodwill of Tennessee operates 48 stores in 36 counties. Pending renewal in 2020 will provide significant NOI growth with a rent increase of $16,000 annually
• No co-tenancy clauses within the center
• Approximately 1 acre outparcel included with the sale presents an investor the opportunity to sale or lease the pad
• Unrivaled visibility and access from Memorial Blvd
• Strong operating history with average tenancy of over 12 years