Southlake Mall Former Sears

Description:

Retail Center of Gravity
The vacant Sears box is in a robust retail node, with over 1.6 million square feet of commercial retail space anchored by Southlake Mall, an 811,835 square feet regional shopping mall with two department stores open and operating: JCPenney, Kohl’s. At 98% occupied and with over 90 tenants, the mall serves as a model destination for consumers, and retailers in the area. With over 6.5M visits in the past 12 months, the mall continues to obtain high volumes of shoppers, drawing the attention of many retailers in the area.
National retailers in the immediate area are H&M, Target, Home Depot, Walmart, PetSmart, JoAnn, Lowe’s Improvement, Costco, H&M, and Ashley Homestore.

Expansive and Desirable Trade Area Demographics
The vacant Sears box at Southlake Mall is conveniently located next to interstate-65 (103,256) and Route 30 (61,754 VPD). Interstate-65 is a major north-south thoroughfare that connects Chicago to Indianapolis, giving the Property access and exposure to greater Chicago. Evidence of this accessibility is the expansive trade area and super regional draw of Southlake Mall, which encompasses a 404,000 people in the trade area. The average home value is $293,073 and has an average household income of $95,356.

Flexible Zoning Ordinance and REA
The city’s zoning ordinance over the Property and the reciprocal easement agreement in place with the Southlake Mall and the owners of the department stores allow a a future investor, owner, or user flexibility in redeveloping the site to their vision.

Free and Clear
The vacant Sears box is being offered free and clear of existing debt obligations. This enables investors to structure their capital requirements according to their needs.

Sales Terms
The former Sears at Southlake Mall is being offered without an asking price on an “as-is” basis, with ownership making no representation or warranties concerning the accuracy or completeness of the offering memorandum or any and all documents delivered to an acquisition prospect for the purpose of performing due diligence.

Documents: