Overview

Description

RI Marketplace Online Auction April 8-10, 2024
Register to Bid on Marketplace:

https://rimarketplace.com/auction/1899/former-jcpenney-86-155-sf-below-2-sf?utm_source=brevitas&utm_medium=listing&utm_campaign=retail_1899

Marcus & Millichap and RealINSIGHT Marketplace are pleased to offer for sale the Former JCPenney Pine Bluff (the “Property”) located at 2901 Pines Mall Drive in Pine Bluff, Arkansas. The Property is approximately 50 miles south of Little Rock and offers investors an opportunity to acquire a well-situated retail asset with optimal visibility adjacent to numerous national tenants.

Built in 1986, the Property consists of a ±86,155 SF former JCPenney and sits on ±6.895 acres with an expansive parking lot containing 418 spaces. The Property is zoned B-2, shopping center district, which is intended to allow for diverse, large-scale commercial development in a planned and coordinated site. The Property is the dominant box at the entrance at The Pines Mall, a 650,000 SF regional shopping center. Neighboring national credit tenants include Lowe’s, Staples, McDonalds, KFC, Red Lobster, Dillard’s, Haverty’s Furniture, Dollar Tree, Best Western, Motel 6, Holiday Inn, Fresenius Medical, and others. The property is strategically located with prime frontage and visibility on E Harding Avenue with traffic counts ±8,824 vehicles per day at the entrance of I-530, a 47-mile interstate connecting Pine Bluff and Little Rock, Arkansas.

Pine Bluff is the tenth-largest city in Arkansas and the county seat of Jefferson County. The community pairs small town costs with southern charm offering multimodal connectivity via Port of Pine Bluff, Pine Bluff Airport, Union Pacific Railroad, and I-530. Pine Bluff benefits from statewide and local incentives, low operating costs, and great logistics infrastructure. Major employers include Tyson, US Food & Drug, Evergreen Packaging, Twin Rivers Paper Company, Saracen Casino Resort, and Pine Bluff Arsenal. The Property is strategically positioned within the market’s primary commercial corridor and across the street from $350M Saracen Casino Resort. Within a five-mile radius, the Property has a 2021 population of ±31,905 individuals and average household income of $47,148.

Highlights

• ±86,155 SF former JC Penney across from Lowe’s at entrance of I-530 in Pine Bluff, Arkansas
• Neighboring national tenants: Lowe’s, Staples, McDonalds, KFC, Red Lobster, Dillard’s, Haverty’s Furniture, Dollar Tree, & numerous hotels
• Excellent accessibility and prime visibility with ±7,200 VPD along US-65/63 & ±8,824 VPD on E Harding Avenue
• Zoned B-2, Shopping Center zoning allows for adaptive reuses including office
• Strategic positioning near area demand drivers: across from $350 M Saracen Casino Resort and within five miles of University of Arkansas Pine Bluff
• 2021 population of 31,905 individuals and average household income of $47,148 within 5-miles

Documents

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