Island Road Shopping Center

Investment Highlights

ISLAND ROAD SHOPPING CENTER
• The subject property is a 100% leased 59,704 SF Winn Dixie anchored retail center in Theodore, AL
• The Roof was replaced in 2021 and has a 20 year warranty
• Seasoned Tenant Lineup | Average tenant tenure: 32.5 years
• Leasing Momentum | New 10 year corporate AutoZone Lease

WINN DIXIE ANCHOR
• Island Road Shopping Center is anchored by a 46,422 SF Winn Dixie grocery store
• This location was part of the acquisition by C&S Groceries (Former Southeastern Grocers) to Aldi
• Aldi plans to invest $2B into Southeastern infrastructure and recently opened a 564,000 SF distribution center less than 35 minutes from this location
• Winn Dixie has been at this location for over 40 years, originally occupying the space in in 1984
• Base rent to sales ratio of 3.14% | Sales of $10.8M

DOMINANT HIGH TRAFFIC GROCER
• Limited Competition | No other national grocers in a 2.5 mile radius
• Property is located just off high traffic interstate I-10 (84,330 VPD)
• The property sits at an intercept location at Government Blvd (21,476 VPD) & Theodore Dawes Rd (14,856 VPD)

COASTAL AL MARKET | MOBILE MSA
• Island Road Shopping Center is positioned in the Mobile MSA which is the third largest MSA in the state
• Theodore is located 15 minutes southeast of downtown Mobile and is located off I-10 (84,330 VPD)
• Mobile is the fourth most populous city in AL with over 205,000 residents.
• The Port of Mobile is the 12th largest port in the US, handling an excess of 55 million tons of cargo annually and generates 313,000 jobs per year.
• Mobile Aeroplex at Brookley is the largest industrial transportation complex in the region with approximately 70 companies and 3,600 employees.