STRONG TENANT MIX • Aspen Dental is corporately guaranteed and backed by over 650 Dental Practices. • AT&T is guaranteed by Spring Mobile who operates 1,400+ locations in 28 states. • OneMain Financial has a corporate guarantee and is backed by 1,700 locations. • Glazed Doughnuts is leased to an Experienced Franchisee with locations across multiple states
LONG TERM LEASES WITH INCREASES • AT&T and Aspen Dental have brand new 10-year leases. • AT&T has a 10% rent increases in Year 5 of the Base term and in each of the 5-year option periods. • OneMain Increases 3% Annually • Glazed Doughnuts is on a 5 Year Lease
RECENT CONSTRUCTION • The Property is a newer construction Four Tenant strip center located as an outparcel to a Big Lots anchored Center in the Gulfport-Biloxi-Pascagoula CSA • The property was completed and delivered to tenants in June of 2017 • Class A construction features attractive cultured stone and brick exterior
STRATEGIC LOCATION • Property is located on Denny Ave. (29,000 VPD) the primary retail corridor serving Pascagoula, MS. • Surrounding retailers include Walmart, Big Lots, Lowe’s, Save-A-Lot, Hibbett Sports, McDonald’s, Taco Bell, Planet Fitness and more. • The subject is located 10 minutes from the coast in a corridor that includes traffic drivers such as the Pascagoula Naval Complex, Pascagoula beach park, and the Chevron Pascagoula Refinery
PASCAGOULA, MS (GULFPORT CSA) • Pascagoula is considered to be Mississippi’s Flagship City & serves as county seat of Jackson County. • Pascagoula continues to be a major industrial center of the Coastal Mississippi due to its major shipbuilding center that was built in World War II. • The town is home to major state employers in the shipbuilding and refinery industries including Ingalls Shipbuilding, Signal International, VT Halter Marine and Chevron Refining. • Pascagoula’s port is experiencing major growth after Ingalls Shipbuilding announced a new $100 million east bank improvement project as it continues work on a west bank project known as the “Shipyard of the Future.” • The Gulfport-Biloxi-Pascagoula Combined Statistical Area is made up of five counties in the Mississippi Gulf Coast region & has a population of 427,322 • In 2018, Gulfport-Biloxi-Pascagoula CSA was ranked #4 in 10 midsized metropolitan areas undergoing rapid job and demographic growth by Realtor.com.