Park Plaza
Very attractive asset on a primary corridor with strong WALT and upside.
Marketing description
Berkeley Capital Advisors is pleased to exclusively present the
opportunity to acquire Park Plaza, a 116,611 SF shopping center on
Fort Campbell Boulevard (32,000 VPD) in Hopkinsville, KY. The center
is 100% occupied and anchored by Ollie’s Bargain Outlet, Planet
Fitness, Dollar General, and Citi Trends. Located less than 20 miles
from Fort Campbell Army Base ($10.1B+ annual economic impact), the
property benefits from a captive consumer base of 240K+ military
and civilian personnel. A 5,500 SF vacancy offers immediate leaseup
upside, while $1.6B+ in nearby industrial investment, including the
$1.26B Commerce Park development, continues to drive economic
growth across the region.
Investment highlights
Credit Lineup with WALT
Park Plaza is anchored by several national credit
tenants including Ollie’s Bargain Outlet, Planet Fitness
(43-unit franchisee), Dollar General, and Citi Trends.
These prominent tenants occupy approximately 75%
of the center’s total GLA and enhance the durability of
the center’s operating revenue. Together, these four
anchor tenants carry a weighted average lease term
(WALT) of 6.93 years, providing long-term occupancy
stability.
Low Basis/Attractive Entry Point
Park Plaza presents a compelling opportunity to
acquire a well-anchored, nationally-tenanted center at
a basis well below replacement cost, with strong inplace
cash flow and long-term upside potential.
Nearby Industrial Developments
Commerce Park, located just 7 miles from Park Plaza,
has attracted over $1.26B in total investment and
announced more than 1,045 new jobs. Anchored by
Ascend Elements’ $1B+ EV battery facility alongside
Cinis Fertilizer, SK Ecoplant/TES, and Kitchen Food Co.,
these investments are diversifying the local economy
and driving demand across the region.
Fort Campbell Army Base
The center is located less than 20 miles from Fort
Campbell Army Base, which generates over $10.1B
in annual statewide economic impact. Limited retail
offerings within the area immediately surrounding the
base have continually driven more than 240K active
duty and civilian personnel, DOD contractors, and
their families to utilize Hopkinsville for retail shopping,
dining, and services.
Strategic Location
Park Plaza sits on Fort Campbell Boulevard, the
primary commercial corridor in Hopkinsville with
32,000 vehicles per day. The property is 15 minutes
from Fort Campbell Army Base, 35 minutes from
Clarksville, TN, and approximately 75 minutes from
Nashville. Hopkinsville serves as the retail hub for
Christian County with 31,000+ city residents, 75+
industries, and a $1.8B annual agricultural economy.
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