Aspen Dental | AT&T | OneMain Financial

Aspen Dental | AT&T | OneMain Financial

4001 Denny Ave.
Pascagoula (Gulfport MSA), MS

Price: $3,102,000
Cap: 7.50%
NOI: $232,643
Building Size: 8,400 SF
Lot Size: 1.05 AC

Investment Highlights

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.

Zach Taylor
OFFERING MEMORANDUM

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