Kroger Shadow Center

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2340 MT. Pleasant Rd
Hernando, MS

Price: $3,940,000

Cap: 8.00%

NOI: $315,069

Building Size: 14,700 SF

Lot Size: 2.19 AC

Investment Highlights

KROGER SHADOW CENTER

• The subject property is a 14,700 square foot retail center located in an affluent & growing suburb of Memphis

• Shadow Anchored to a high performing Kroger

• Unique mix of service oriented local tenants

• High Traffic Retail Corridor

TOP PERFORMING KROGER ANCHOR

• Property is shadow anchored by a Kroger that sees 1.8m visits a year

• This is a top 5% most visited location in the country, and is the #3 most visited Kroger in all of Mississippi (29 locations)

• #2 most visited location in a 50-mile radius

• Top grocery store in the market

HIGH TRAFFIC CORRIDOR IN GROWING SUBURB

• Property is positioned at the heart of Hernando, MS

• Hernando is an affluent and rapidly growing suburb of Memphis

• 5-Mile HHI: $90,000

• 5-Mile Growth: 8.74%

• Positioned just off I-55 (55,000 VPD), the major highway system leading to Memphis

• Facing E Commerce Street (23,000 VPD)

• Only grocery competition in the market is Walmart

SEASONED TENANT LINEUP

• This Kroger Shadow center features a diverse mix of seasoned tenants

• Majority destination/restaurant/service oriented

• 5 tenants (50% of GLA) are original tenants from when the center was built in 2003 • Average Tenant Tenure: 15+ years

HERNANDO, MS | MEMPHIS MSA

• Hernando is the county seat of DeSoto County, the second-most-populous county in the Memphis metropolitan area, which includes counties in Tennessee, Arkansas and Mississippi.

• Hernando is widely known for it’s high quality of life and continued population growth as one of Memphis’ most exciting suburbs

OFFERING MEMORANDUM

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