Walmart Shadow Center

Walmart Shadow Center

179 Relco Drive
Manchester, TN

Price: $3,000,000
Cap: 8.25%
NOI: $245,662
Building Size: 20,875
Lot Size: 2.32 AC

Investment Highlights

• DOMINANT RETAILER IN MARKET

• STRATEGIC INTERSTATE LOCATION (58,500 VPD)

• LEASING MOMENTUM | 3 NEW LEASES & 2 RECENT RENEWALS

• STABLE HISTORY | AVERAGE OCCUPANCY 10+ YEARS

• SHADOW TO WELL-PERFORMING WALMART SUPERCENTER FOR OVER 20 YEARS

WALMART SUPERCENTER SHADOW CENTER
• The subject property is a 20,875 SF Walmart supercenter shadow anchored retail center located in Manchester, TN.
• Leasing Momentum: three (3) new leases & two (2) lease renewals in the past 8 Months.
• Dollar Tree has just shown its long term commitment to the center by exercising its second 5-Year extension through 2025.
• The center has a long-standing history | Avg tenant Occupancy is 12.82 Years (Excluding New leases).

STRATEGIC LOCATION | REGIONAL TRADE AREA
• Attractive Interstate Location | The subject property is well located the high traffic intersection of Interstate 24 & Hillsboro BLVD (Combined 58,500 VPD).
• This shopping center is the largest and the dominant retail center in Fulton making up 26% of the total retail square footage in Manchester.
• This Walmart services a 20+ mile trade area with no competing big box properties in the city of Manchester.
• Distance from nearest big-box competition: Target (45 mi.), Walmart (24 mi.), Kroger (23 mi.) and Publix (19 mi.).

MANCHESTER, TN
• Manchester is located halfway between Chattanooga, TN and Nashville, TN and is the county seat of Coffee County.
• The subject properties tenant lineup is ideally suited for the High Growth & Low-Income demographic of Manchester.
• Manchester is home to Bonnaroo, one of the country’s largest Music & Arts Festivals in the country with over 80,000 annual attendees.
• The subject property is located directly adjacent to the 700-Acre farm in which Bonnaroo is hosted and draws tens thousands of consumers from the event each year.

Zach Taylor
OFFERING MEMORANDUM

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