Cash-Flowing Retail with Value-Add Upside
±52.5% occupied Goodwill anchored retail center situation on 13.55 Ac
Significant upside via vacancy absorption of ±61,871 SF at long term market rates
2020 population of 35,678 and avg HH income of $44,721 within 5-miles
High traffic area with optimal visibility, excellent accessibility, and direct frontage along Us-45/S Highland Ave with ±29,000 Vpd
Nearby national/credit tenants include Walmart Supercenter, Lowe's, Dollar Tree, Subway, Walgreens, Zaxby's, Dollar General, Food Giant, AutoZone, Jack's, and more; Increases consumer draw to the trade area and promotes crossover shopping
Jackson MSA is well located between the two largest markets in Tennessee - Memphis and Nashville.
CBRE and RealINSIGHT Marketplace are pleased to present Bemis Square located in Jackson Tennessee, centrally situated between Memphis and Nashville. This REO property is being sold “free and clear” of any existing debt. Bemis Square is a ±130,310 SF community shopping center with 812 parking spaces situated on ±13.55 acres. The Property is currently ±52.5% leased to Goodwill Industries of Middle Tennessee, Coram, and Verizon Wireless. The Property has four vacancies ranging in size from ±1,300 square feet to ±55,763 square feet.
Jackson is in Madison County and is considered the regional center of West Tennessee because it is equidistant form Memphis and Nashville along I-40. The Jackson trade area serves both regional and community retail customers due to its geographic pull and its proximity to nearby towns including Humboldt, Medon, and Three Way. Bemis Square has significant visibility to heavily travelled US Highway 45 (29k Vpd) and is approximately 8 miles south of I-40 with direct access to Memphis and Nashville. National retailers within a mile of the Property include Walmart Supercenter, Lowe's, Dollar Tree, Subway, Walgreens, Zaxby's, Dollar General, Food Giant, AutoZone, Jack's, and more.
Auctioneer: John Roebuck | Fisher Auction Company | License: 1702 TN Broker No. 00022430
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