8091 Hacks Cross Rd
Olive Branch, MS 38654
Industrial Property For Sale

Marcus & Millichap is pleased to present Pacific Shore Stones located at 8091 Hacks Cross Road, Olive Branch, Mississippi (Memphis MSA). The offering consists of a brand new 15,000-square foot single tenant, free standing Class-A Industrial Warehouse on approximately 1.65 acres. The subject property was built in 2017, as a build-to-suit for the tenant. There are ten-years remaining on the triple-net (NNN) lease, with two renewal options. There are minimal landlord responsibilities, limited to the roof and structure. The lease calls for annual two (2) percent rental increases during the initial ten-year term. The tenant is Pacific Shore Stones, a leading importer, wholesaler of exotic, natural stones. Established in 2004, the company offers a wide selection of granite, marble, quartz, travertine, onyx, limestone, quartzite and soapstone slabs. Pacific Shore Stones stocks over 120 stone colors to help inspire and meet the design goals of its consumers. This concept presents its stone in a more traditional showroom/ warehouse setting, with an upscale showroom presentation. The company owners regularly visit quarries in places such as Brazil, Italy, Spain, Turkey, India and China, enabling them to keep up with new trends and to hand-select unique stones. They have locations from the West Coast to the East Coast, bringing their stone from all over the world into coastal ports for distribution to centrally located facilities from regional distribution centers. The company has grown to eighteen locations nationally from California to South Carolina. The subject property is located in a growing submarket of the Memphis MSA and only thirty minutes southeast of downtown Memphis. The DeSoto Industrial Submarket boast over 27 Million square feet of industrial space occupied by major national and global companies, such as UPS, Williams Sonoma, Dollar Tree, AmerisourceBergen, McKeeson and near 100 other companies. Recently, the Memphis/Shelby County Economic Development Growth Engine (EDGE) launched a new incentive program to counter the attractive development environment found in surrounding counties and in Mississippi. The fast-track payment-in-lieu-of taxes (PILOT) program offers applicants a property tax abatement of 75 percent for up to ten-years, if their industrial or office project meets certain capital investment and job creation requirements, however speculative projects are not eligible for the program. There are more than 707,900 residents, including over 731,900 employees within a fifteen-mile radius with average annual household incomes exceeding $89,700 within ten-mile radius. The population has grown by five percent since 2010. This opportunity provides an investor a stable long term passive investment, with annual income growth and a strong growing national tenant within a growing industrial market.