This Retail property is For Sale.
2501 GOVERNMENT BLVD. (US HWY #90)
Mobile, AL 36606 ·
73,878 SF · Retail For Sale
ST. FRANCIS PLAZA
|Gross Leasable Area||73,878 SF||Occupancy||90%|
|Property Sub-type||Community Center||Year Built||1978|
|Property Use Type||Investment||Lot Size||5 AC|
|Listing ID: 17395050||Date Created: 10/29/2011||Last Updated: 01/29/2016|
An attractive, well maintained community center containing 73,878 sq.ft. Built in 1978 and expanded and refurbished in 2004. New roof over satellite stores in 2002; new roof over supermarket 2005.
Major tenants occupy 84% of center: Greer Foods (Ahold), Dollar General, Rent-A-Center and ABC State Liquor Store (to expand in 2015).
Situated approx 3 miles west of Downtown Mobile on Government Blvd. (US Hwy #90), the major east/west commercial thoroughfare between downtown Mobile and Interstate I-65, a 6 mile stretch. Immediate area is made up of established residential developments and small retail properties. This is the primary shopping center in the immediate area.
- Greer Foods lease is guaranreed by Ahold USA Corp. Negotiating a renewal lease.
- Dollar General entered into a new primary lease after CVS sublet expired. Renewed for 5 more years thru 2018.
- Rent-A-Center has been a tenant for over 21 yrs. Will be entering into a new lease.
- ABC Liquors is a state owned tenant and guarantees the lease. Will be expanding and enering into a new lease.
- ABC's expansion will add $41,088 to the income with add'l rent and constr cost reimb.
- Advance America has been a tenant for 13 yrs.
Contact Listing Broker
Advance Realty Co.
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