SOLD – Mills Corner

THE OPPORTUNITY

• Long term renewal opportunity with KJ’s with significant rental bumps
• Rental increase opportunity with 89% of the GLA up for renewal in 2020
• Rental rates well below those of neighboring shopping centers
• Minimal short-term cap ex as roof is estimated to have 12 years of life left
• Potential to add additional shop space on site

THE HIGHLIGHTS

• Mills Corner is one of the Lexington area’s leading grocery anchored centers
• Only grocery anchored center on Hwy 1 between I-20 and I-26
• KJ’s is owned by W. Lee Flowers which has been in business since 1922. They own and operate 50 stores and service 40 more.
• Mills Corner is 100% leased
• 25% of tenants have been located at the center since 1995
• 50% of tenants have been located at the center for at least 8 years