Goodwill, Tractor Supply, Bealls + Pad Development Potential
$71 PSF, Covington, TN - 30-Minutes from $5.6B Ford Blue Oval Plant
Marketing description
Colliers is pleased to present Covington Shopping Center, a +/- 72,000 square-foot, three-tenant shopping center in Covington, TN. Situated along Highway 51 — a high-visibility corridor carrying more than 26,000 vehicles per day — the property is located within the heart of the retail corridor.
Surrounding retailers include, but are not limited to, Home Depot, Walmart, Five Below, and many others.
The subject property also features value-add components through multiple channels. The shopping center spans +/- 11.44 acres with a robust parking field of 499 stalls. The excess parking and land present an opportunity to develop an additional pad site of approximately +/- 0.67 acres, which could support the construction of an additional 5,100 SF of retail space.
Covington, Tennessee serves as the county seat of Tipton County and is strategically located along the Highway 51 corridor, approximately 35
miles north of downtown Memphis. As part of the greater Memphis MSA, Covington benefits from the region's robust logistics, distribution, and
agricultural economy while maintaining a strong small-town commercial core.
Investment highlights
- Headlined By New 10-YR Goodwill Lease, Tractor Supply 6+ Years Remaining, and Bealls, 8 Years Remaining
- Pad Site Development Potential - +11 acre site allowing for the ability to develop the pad site
- 45 Minutes NE of Memphis
- Major Renovation TSC completed in 2021, FUSION program, investing capital to reinvigorate the store
- Offered at $71 PSF
- 30-Minutes to New Ford Blue Oval Facility, Globally Recognized, $5.6B plant employing close to 6,000 people
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