Marcus & Millichap is pleased to present the opportunity to acquire a multi-tenant retail building located in Memphis, Tennessee. This property is currently occupied by two national tenants, Family Dollar and Fresenius Medical Care. Both Tenants have 10-year, double net leases with four years remaining on the base term. Fresenius has three, five-year option periods. Family Dollar vacated in mid-May but will finish the term of their lease and continue paying rent through 2023.
Located in Memphis, the largest city in Tennessee, the largest city on the Mississippi River, and the third largest in the greater southeastern U.S. The subject property is located on Summer Avenue/Highway 70. This property is also located near the entrance and exit ramps to Interstate 40 and Interstate 240, two of Memphis’ major roadways. Surrounding national retailers include Kroger, Big Lots, T.J. Maxx, Walgreens, Lowe’s, Advance Auto Parts, AutoZone, Ross, Taco Bell, Burger King, McDonald’s, Bank of America and many more. Family Dollar & Fresenius is four miles from Southwest Tennessee Community College and nine miles from downtown Memphis.
