Decatur, AL - The Market Shoppes

Description:

SRS Investment Properties Group is pleased to offer the opportunity to acquire The Market Shoppes, a 81,045 rentable square feet, 100% leased, Kohl’s and ULTA anchored Class A retail center investment property located in the heart of Decatur, Alabama. The center features a strong lineup of e-commerce-resistant food, service, and health-based tenants. Kohl’s, the major tenant, occupying 68% of GLA, has been operating on site for 10 years, with another 10 years in its initial term and ten 5-year options to extend, demonstrating a strong commitment to the site. The center is constructed and delivered in late 2012, featuring excellent quality construction and finishes with all new systems that will require virtually no capital costs for a new owner over the next several years. Excess 0.3 acres undeveloped outparcel pad next to Kohl’s is available and zoned B-2 (General Business) for future development. Owner to retain or consider market price offers contact agent for pricing.

The Market Shoppes retail center is located near the signalized, hard corner intersection of 5th Avenue and State Highway 67 with a combined 37,900 VPD. State Highway 67, is the major retail thoroughfare serving the city of Decatur. The site benefits from excellent visibility and access via a large monument sign and multiple points of ingress/egress. Located within a immense retail corridor, the property is situated nearby to a variety of national/credit tenants including Target, TJ Maxx, Petco, Hobby Lobby, Walmart Supercenter, The Home Depot, and more. Strong tenants synergy increases consumer draw to the trade area and promotes crossover retail exposure for the site. The 5-mile trade area is supported by a dense population of more than 62,000 residents and 32,700 employees. Residents within 5 miles of the subject property boasts an average household income of $76,806.

---

Report Listing This listing was syndicated through:

Listing ID: a288X0000065LbPQAU