900-903 Hollywood Drive, Jackson, TN 38301
Spaces
Office/Retail | 6 space available | 600 sq. ft. - 21,600 sq. ft.
Building description
LONG TERM NATIONAL CREDIT ANCHOR’S – Save-A-Lot and Family Dollar have been operating at Hollywood Shopping Center since early 1990 and currently have over one and three years remaining on their lease term, respectively. St. Louis based Save-A-Lot is one of North America’s leading operators of discount supermarkets. Operating 1,300 stores in 36 states with over $4 billion in annual sales. *Save-A-Lot is planning a renovation to the store in the middle of 2021 to the tune of ~$100,000
DIVERSE AND INTERNET-PROOF TENANT MIX – The Property has internet-proof tenancy with sustained, in-person visits from the committed customer base. There is a strong mix of national, regional, and local tenants including Save-A-Lot, Family Dollar, Rent-A-Center, Jackson Hewitt, among other service-oriented tenants.
PROMINENT LOCATION WITH EXCEPTIONAL VISIBILITY AND ACCESSIBILITY – The Property bene ts from convenient ingress/egress with three different points of access. The main traffic driver comes from Jackson- Madison County General Hospital. Jackson General employs over 7,000 people with over 400,000 persons residing within the service area.
DENSE RETAIL CORRIDOR – In Hollywood’s immediate vicinity, you will nd a plethora of national retail tenants including Lowe’s, Walmart, Kroger, Sam’s Club, McDonald's, Best Buy, Chipotle, Marshalls, Panera, Chick-Fil-A among others.
UNENCUMBERED ASSET – Offered free and clear of any existing financing, a new investor can take advantage of historically low-interest rates and ample availability in the capital markets to significantly enhance returns thought aggressive capitalization structures.
OPPORTUNITY ZONE – The asset is currently positioned inside an opportunity zone, a new investor can take advantage of many new tax incentives.
Building highlights
Jackson is known for having a big city appeal with small town southern charm. Re ned by American history, music heritage and outdoor experiences, Jackson o ers visitors a variety of attractions to explore. Top attractions include the civil war battle elds, Casey Jones Museum, and the Legends of Tennessee Music Museum.
Jackson has a long history as the entertainment center of West Tennessee with a rich blend of country, blues, and rock embedded in its southern roots. Home to the rst Hard Rock Café in America and the Legends of Tennessee Music Museum, Jackson o ers its visitors the opportunity to explore America’s music history.
Jackson is the 8th largest city in Tennessee with a population of approximately 66,903, and 25,773 households. The median household income is $41,606. With West Tennessee as a vital part of the states continued economic growth, large corporations are investing in multi-million dollar operation expansions at their existing facilities and operations in Jackson. Through these investments, the
city continues to experience an increase in both economic and population growth.
Hollywood Shopping Center (the “Property”) a 48,900 square-foot neighborhood strip center located in Jackson, Tennessee, the seat of Madison County. Currently, 70% leased property is anchored by Save-A-Lot and Family Dollar. Both anchors have been at the center since the early 1990’s. The Property is ideally situated with great visibility along Hollywood Drive, sitting just down from Bypass 45 (27,000 VPD). Jackson, TN, Madison County’s largest city, is approximately 70 miles east of Memphis and has been voted “Best Hometown” in 2017 and 2018. With the long-standing history of the two anchors, Hollywood Shopping Center o ers an investor the opportunity to rent a high-quality strip center providing a stable yet accretive business income stream for many years to come. This outstanding investment opportunity is being offered free and clear of existing financing.
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