Cordova, TN - Vacant Big Box

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a Big Box Retail within Countrywood Crossing Center, redevelopment property located in Cordova, Tennessee (Memphis MSA). The redevelopment opportunity provides future investors with an upside through leasing the property to a new tenant with long term at rent of market rate, while current MTM rent minimize the risk before converting to a new tenant.

The subject Big Box sits within Countrywood Crossing Center, a 253,000 SF neighborhood shopping center anchored by Kohl’s, Ashley Furniture, Dick’s Sporting Goods, and Ross Dress For Less. Other tenants in the center include: ULTA Beauty, Kirklands, Lane Bryant, Mattress Firm and others. The property sits at the signalized, hard corner intersection of N. Germantown Pkwy and IKEA Way (73,400 VPD) and benefits from significant frontage along N. Germantown Pkwy. N Germantown Pkwy. is the major retail thoroughfare serving the city of Cordova. The property is a half mile from the intersection of N. Germantown Pkwy. and I-40 (125,500 VPD). The site also benefits by being adjacent to IKEA, Costco, and the Market Place Galleria center, combined these centers include over 600,000 SF of retail space. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Sams Club, Michaels, Home Depot, Target, Hobby Lobby, Lowe’s Best Buy, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 169,000 with an average household income of $97,500.