Memphis, TN - Centennial Crossing Inline Shops

Description:

SRS Capital Markets is pleased to present the opportunity to acquire the fee simple interest (land & building ownership) in Centennial Crossing In-Line Shops located in Memphis, Tennessee. The center consists of a diverse, ecommerce resistant tenant lineup comprised of retail, restaurant, and service tenants creating a stabilized income stream for a future investor in an income tax free state. The asset is shadow anchored by Costco an Lowes, greatly increasing consumer traffic to the shopping center which ranks in the top 91st percentile per Placer.ai

The asset is located near the signalized, hard corner intersection of Winchester Road and Hacks Cross Road with a combined 64,700 vehicles passing daily. Winchester Road is the primary retail thoroughfare serving the immediate trade area. The thoroughfare features shopping centers highlighted by Walmart Supercenter, Home Depot, Sam’s Club, and Dick’s Sporting Goods. The property will benefit tremendously from the retail exposure generated by the concentration of major retailers in the area, in addition to its position as an outparcel to a Costco and Lowe’s. The two national brands draw a significant amount of consumers to the shopping center, promoting crossover shopping to the surrounding tenants including Starbucks and Chase Bank. The Shoppes at Centennial Crossing ranks in the 87th percentile among shopping centers nationwide (Per Placer.ai) given its direct access to an affluent consumer base and convenient location less than 1-mile from on/off ramps of State Highway 385 (107,800 VPD). The 5-mile trade area is supported by a population of over 179,300 residents and 93,500 employees with an average household income of $114,872.