WALMART SUPERCENTER SHADOW CENTER • The subject property is a 40,760 SF Walmart Supercenter shadow anchored retail center located in Johnson City, TN • The property offers a stabilized investment at 94% occupancy and includes national brands such as Dollar Tree, CATO, Sally Beauty, GameStop, Great Clips, & more • Weighted Average Lease Term Remaining: 4.66 Years • Average Tenant Tenure: 10 Years • Leasing Momentum: 2 new leases & 4 renewal in the last 12 months (52.44% of total GLA)
STRATEGIC LOCATION • This Center is Shadow Anchored by a high-performing Walmart since 2006 (Walmart owns the Walmart) • Located just off Interstate 381, this Walmart serves as the primary Walmart to Johnson City • Ideally situated on the high traffic corridor of West Market Street (27,483) & I-381 (31,372 VPD) • Located in retail corridor | 1.2M SF of retail in 2-mile radius
JOHNSON CITY MEDICAL CENTER | EAST TENNESSEE STATE UNIVERSITY • Property is located 2 miles from East Tennessee State University, the fourth largest university in the state of Tennessee • ETSU enrolls 17,000+ students & employs 800+ academic staff • The property is less than 2 miles from Johnson City Medical Center, a major medical facility in the Tri-Cities with 2,300 employees & 531 beds • Johnson City Medical center is a Level 1 Trauma Center and one of the 3 major hubs of regional provider Ballard Health • The hospital serves as a teaching hospital for numerous institutions, including the adjacent East Tennessee State University
JOHNSON CITY, TN • Johnson City, TN is the eighth largest city in Tennessee and is a component of the Tri-Cities Region • Downtown Johnson City is a vibrant place with great restaurants, shopping, urban living, office space, culture, entertainment, and a unique history. • Tremendous redevelopment has taken place in downtown Johnson City over the past several years, bringing new investment, activity, and growth.
TRI-CITIES, TN • The Tri-Cities is the region comprising the cities of Kingsport, Johnson City, and Bristol and the surrounding smaller towns and communities in Northeast Tennessee and Southwest Virginia. • The Tri-Cities region is the sixth largest population center in Tennessee • Home to Eastman Chemical Company, a Fortune 500 corporate headquarters, the Tri-Cities area is internationally known for high quality products and corporate innovation • A strong manufacturing employment base, health care and education are important core sectors for the Tri-Cities.