Forest Commons

921 Mississippi 35, Forest, MS

Opportunity to acquire a Best-in-Market shopping center
The center is 100% occupied
Tenant Longevity
7 of the 8 tenants have been in the center for 10+ years
98% of the GLA is comprised of National Tenants
Located along one of the trade area’s most heavily traveled highways with traffic counts of over 18,000 vehicles per day
Largest number of national tenants when compared to other centers in the market
Largest tenant, Dirt Cheap, has been in the center for 17 years
Below market average in-place rental rates of $6.20/sf
24,175 SF (39% of GLA) of new and renewal leases in the last 24 months
New 5-year lease with Citi Trends in 2021
Hibbett’s exercised their 5-year option early in 2022
Aarons extended their term for 3 years in 2022
Good visibility from Hwy 35, which has over 18,000 VPD and is the primary thoroughfare connecting the town to Interstate 20
Stable economic drivers with University of Mississippi Medical Center (UMMC) leading as one of the largest economic drivers with 7,200 employees
Minimal vacancies within the submarket should allow for ease of lease up of any future vacancies, Forest market currently running at north of 94% retail occupancy

Ryan McArdle

License: GA 317459