Spanish Fort, AL - Bass Pro Shops

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in a freestanding, corporate guaranteed, Bass Pro Shops investment property located in Spanish Fort, AL (Mobile MSA). The tenant, Bass Pro Outdoor World, LLC, has over 3 years of firm term remaining with an additional 10 (5-year) option periods to extend. The tenant is operating on a modified gross lease and is currently paying base rent per their minimum required threshold (see pages 5 & 14 for details). Founded in 1972, Bass Pro Shops is North America’s premier outdoor and conservation company with 200 operating locations.

Bass Pro is strategically located along Bass Pro Drive with direct access to US Highway 98 (41,700 VPD) and US Highway 31 (23,700 VPD). The site also fronts Interstate 10 (59,400 VPD), providing direct access into Mobile, AL and connecting the MSA. Bass Pro is ideally situated as a co-anchor to Spanish Fort Town Center, a 461K+ SF Lifestyle Center also anchored by Kohl’s. The property is also within direct proximity to Jubilee Square (511K+ SF), Eastern Shore Park (385K+ SF), and Eastern Shore Plaza (267K+ SF). The surrounding national/credit tenants include The Home Depot, AMC Theaters, ALDI, Walmart Supercenter, Publix, Lowe’s, and Sam’s Club, among many others. The strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is near numerous single-family communities and multi-family complexes including The Kensley (104 units), The Vinings at Spanish Fort (240 units), The Arlington at Eastern Shore (300 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 43,100 residents and 19,700 daytime employees, with residents boasting an affluent average household income of $106,757.