123 Grandview Blvd
Madison, MS 39110
Walmart Anchored Shopping Center_Jackson, MS · Retail Property For Sale

Marcus & Millichap is pleased to bring to market a Walmart Anchored Shopping Center, comprised of 41,036 SF and located in Madison, Mississippi the highest income city in the state. The subject property was built in 2005, situated on approximately 6 acres with ample parking, multiple points of ingress/egress, and excellent visibility near a signaled intersection. The shopping center is currently 96% occupied with 1,500 SF or 3.66% of realizable vacancy upside. Additionally, 72% of the GLA is being leased until 2019 2020 by a strong mix of national and local tenants. It has shown strong demand from tenants and customers alike by attracting a plethora of national tenants including Dollar Tree, GameStop, Sally Beauty, Little Caesars, and Cato just to name a few. A potential investor will benefit from established credit tenants all of which are operating under triple net leases along with an increase in cash flow with three of the tenants having rent increases within 2016 and not priced into the deal. The subject property is positioned in between I 55 which sees 66,194 VPD and Grandview Blvd, the dominant retail corridor in the area connecting shoppers to big box banners like Walmart, Dick' s Sporting Goods, Sam' s Club, Malco Grandview Cinema, Best Buy, and more. Directly across from the subject property is Lowe' s and Office Depot. Some other stores like Dick' s Sporting Goods and Best Buy are located just south of the Walmart Supercenter in a 330,000 SF, 16 store, 27 acre ultra luxury retail shopping center called The Forum at Grandview. The construction for the third phase of this shopping center is currently underway creating room for prospective tenants. Additionally, plans have recently been approved for the development of a 60 acre, 350,000 SF retail juggernaut immediately diagonal from the subject property and across the street from The Forum called Grandview East. Prospective tenants at Grandview East will include Hobby Lobby, Marshall' s, and Bed Bath and Beyond just to name a few. Madison, Mississippi is a 10 minute drive from Jackson, the state' s capital and largest city.