NEW EXECUTED 10-YEAR LEASE • Walmart has occupied this location for 20 years and recently agreed to a 10-year extension starting Feb 2021 giving it an 11 year lease term. • There is an attractive 10% rent increase during first option period.
AA CREDIT RATED TENANT • Walmart is a publicly traded company (NYSE: WMT) with an S&P rating of AA. • Ranked #1 on the Fortune 500 list. • Walmart is the largest retailer and employer worldwide with more than 11,700 stores and 2.3M employees. • $500.3B in total revenue in 2018 from eCommerce and store sales.
DOMINANT RETAILER IN LOCAL MARKET • This Walmart is part of Payton Park which is a 231,820 SF Shopping Center that is the dominant retail center in the area. • The subject property is located in the heart of the main retail corridor on US Highway 280 (21,065 VPD). • Surrounding Retailers Include: Hobby Lobby, TJ Maxx, Home Depot, Chick-fil-A, Zaxby’s, Starbucks and more. • The next Closest Walmart at least 30 minutes in every direction. • The center has strong Real Estate Fundamentals perfect visibility, signalized intersection, ideal signage, sufficient parking, and attractive facade.
SYLACAUGA, AL • Sylacauga, commonly known as “The Marble City” and “Alabama’s Best Kept Secret”, is home to the finest white marble bedrock in America. The white marble bedrock was the first and largest industry in Sylacauga, with the main source being Gantts Quarry (located directly across from the Center). • Sylacauga & the surrounding Talladega county’s economy is also driven by a strong industrial presence with companies such as Honda, who’s auto plant continues to be an economic engine for Alabama, adding $12.1 Billion & 45,000+ jobs. • Sylacauga is also home to the Blue Bell Creameries distribution center, a multi-complex center that employs 300+ individuals and doubles as a major tourist attraction for visitors of Alabama. • While the city’s industrial sector has driven its economy; Sylacauga is also known as an extravagant getaway as it is home to Pursell Farms, a luxury resort with lodges, golf course, and a brand-new inn.
BIRMINGHAM-HOOVER MSA • With a population of 1.2M, the Birmingham-Hoover MSA is the largest and fastest growing MSA in Alabama. • Due to its rapid growth in recent years, Birmingham has earned the name “The Magic City” and has blossomed into a top-ranking business & banking center of the southeast. • The Birmingham-Hoover MSA boasts a strong and stable economy driven by Industrial expansion and automotive manufacturing | Largest Employers Include: Honda Manufacturing, Mercedes Benz U.S International, American Cast Iron Pipe Company, The United States Pipe and Foundry Company, and The United States Steel Corporation. • Another stronghold of Birmingham’s economy is its banking industry, with over $37 Billion in deposits from major banking centers.