Gulf Coast Shopping Center Port. of 3 3 Retail Properties in Multiple Locations

Opportunity to acquire a fee simple interest in the three-property Gulf Coast Portfolio: Choctaw Plaza located at 344 Highway 90, Waveland, MS 39576; Gulf Breeze Plaza located at 2226 Bienville Blvd., Ocean Springs, MS 39564; and Picayune Place located at 795 Memorial Blvd., Picayune, MS 39466 ("The Portfolio” or individually, "The Property").
The Portfolio includes approximately 352,251 total square feet on approximately 34.76 acres of land for the three properties. Choctaw Plaza, approximately 127,889 square feet, is anchored by Planet Fitness, Harbor Freight, and Goodwill. Gulf Breeze Plaza, approximately 95,369 square feet, is anchored by Planet Fitness. Picayune Place, approximately 128,993 square feet, is anchored by Harbor Freight and Goodwill. The average tenure for the current Tenants in the Portfolio is 9.1 years with eight Tenants exceeding ten years at their respective locations.
The Portfolio has seen an infusion of over $3.3M in capital improvements since 2021 delineated as follows: Roofs ($1.75M), Parking Lots ($800K), HVAC Replacements ($400K), Other Improvements ($400K). In addition to the capital improvements, the vacancy upside and below-market rents are key factors for the Portfolio.