SOLD – Harper Square

THE OPPORTUNITY

• Harper Square was redeveloped in 2018
• Hobby Lobby is adjacent to Aldi and Marshalls
• Newly renovated facades for Aldi and Marshalls
• New roof over the entire 40,000sf
• LED parking lot lights installed
• Parking lot in front of Marshalls has been resealed and restriped
• New pylon sign installed

THE HIGHLIGHTS

• NN leases with Aldi and Marshalls
• Landlord only responsible for roof and structure
• Marshalls:
  • 10-year initial term
  • 4, 5-year options
  • 6.25% increase in first 5-year option
  • Increases in each subsequent option
• Aldi:
  • 15-year initial term
  • 15% rental increase in year 6
  • 6.25% rental increase in year 11
  • 6, 5-year options with increases in each option

• Harper Square is located on the primary retail corridor within the Corinth market
• Located at the lighted intersection of Lee Hwy & S Harper Rd
• Consumer spending within 5 miles expected to grow 9% in next 4 years
• 30,000 cars daily pass the center (23,300 on Lee Hwy & 7,300 on S Harper Rd)
• Large trade area:
• Drawing from 9 county area
• Corinth is located on the TN state line. Sales tax in MS is 2% less than TN which encourages cross state shopping