Kingsport Pavilion
NEW OFFERING: 190K SF TN Power Center | 98% National Tenants | Value-Add Potential | Tennessee
Marketing description
As exclusive advisor, Newmark is pleased to present the opportunity to acquire the Kingsport Pavilion – a 191,052 square foot, best-in-class power center located in Kingsport, Tennessee. Shadow anchored by Target and Kohl’s, the subject property is comprised of seven dominant national tenants including Academy Sports & Outdoors, Michael’s Arts & Crafts, Burlington, Books-A-Million, Bealls Outlet, ULTA Beauty and Dollar Tree. The offering is highlighted by a brand new, 10-year lease with Burlington and a new, 10-year lease with Academy Sports & Outdoors that opened in 2024. Moreover, the offering also provides for future upside via an included 24.9-acre adjacent parcel boasting over 1,500 feet of undeveloped frontage along US-Highway 11.
Investment highlights
PREMIUM NATIONAL SHADOW ANCHORS & TENANTS
LONG-TERM LEASES WITH RENTAL RATE ESCALATIONS
SIGNIFICANT LEASING MOMENTUM
OUTSTANDING REAL ESTATE FUNDAMENTALS
SUPERIOR DEMOGRAPHIC PROFILE
VALUE-ADD OPPORTUNITY
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