NEW LISTING: Rare opportunity to acquire the fee simple interest (land & building) in a 29,358 SF retail center in the heart of one of Tipton’s County’s premier retail developments, Covington Commons, in Covington, TN. Located between two dominant retailers Walmart Supercenter and Home Depot. This is the only Home Depot & Walmart Supercenter combination within a 30-mile radius & conveniently accessible to over 70,000 plus people, which derives high volume consumer cross-over with increased traffic & exposure. NNN leases with rental increases create long-term upside as they allow the investor to pass-thru the expenses to the tenants. T Priced at only $214 PSF, the subject property is below replacement cost. Clik the link to learn more about the listing: https://lnkd.in/gGxkSg8b #CommercialRealEstate #InvestmentOpportunity #RetailCenter #CovingtonTN #NNNLeases #InvestWisely
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Unlock Hidden Retail Opportunities Amid Market Shifts 🚀 Retail space is tight, and investors expect growth. Here's a savvy tip: keep an eye on leaseholders closing up shop due to bankruptcy. Public notices give you the edge with early notifications. Take Mod Pizza, for example. Rumor has it they're teetering on the brink, possibly filing for Chapter 7 this week. With over 500 stores, including eight here in Florida (Jacksonville and Orlando), the potential is huge , and the situation is certainly worth keeping an eye on. Their ambitious goal was 1,000 stores by 2024. This could mean prime retail space, leased but not yet opened, is up for grabs. Stay ahead of the game and seize these hidden gems! 💡 #RetailRealEstate #InvestmentTips #CRE #Opportunities
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Big Lots is struggling financially and plans to close up to 40 stores, potentially filing for Chapter 11 bankruptcy. Analysts believe their vacant locations might be leased quickly due to tight market conditions, though some sites in smaller markets may lag. Despite Big Lots' efforts to improve liquidity through lease renegotiations and sale-leaseback opportunities, their merchandising strategy is seen as weak. With significant competition and economic pressures, Big Lots faces substantial challenges in stabilizing its business. #CRE #RetailNews #BigLots #CommercialRealEstate #Aspire
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What's Next for The Store C-store Chain? The closure of The Store convenience stores and gas stations has been set in motion due to the bankruptcy of Mountain Express, the owner of the land and buildings. The parent company, Team Schierl Cos., announced that operations will cease by July 31, as reported by WSAW-TV. Despite this setback, efforts are underway to ensure a smooth transition for all associates, with plans to retain them in their current roles under a new operator. Back in 2022, The Store entered an agreement with Mountain Express, which saw the latter taking ownership of the properties while the former continued to manage day-to-day operations. However, Mountain Express's bankruptcy filing, initially under Chapter 11 and later converted to Chapter 7, has led to the eventual cessation of operations in August 2023. The Store, with its 25 locations spanning Wisconsin and Michigan, remains a significant presence in its region. Team Schierl Cos., besides its convenience store ventures, also delves into commercial leasing and development, showcasing a diversified portfolio despite this unforeseen challenge. Contact us for more C-store news. Jake Stammen 📞 (972) 755-5209 ✉️ Jake.Stammen@marcusmillichap.com Salim Bhaidani 📞 (817) 932-6136 ✉️Salim.Bhaidani@marcusmillichap.com Vincent Knipp 📞 (972) 755-5205 ✉️ Vincent.Knipp@marcusmillichap.com 👉 Click link for details: https://lnkd.in/g--Vb_XJ #NNN #retail #realestate #investment #investing #commercialrealestate #property #passiveincome #cre #investor #realestateinvesting #commercialproperty #netlease #retailrealestate #thestore #Cstore
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With the recent announcement of Big Lots’ bankruptcy…. I wanted to look at their real estate and how desireable it would be for potential backfill tenants…. Summary of what we found? The real estate overall is pretty subpar and will not nearly be as desirable as previous bankruptcies like Bed Bath & Beyond. However given the challenges of finding available space - many of them will be scooped up over the next year. The deets: Big Lots currently has 1389 locations, and with the announcement of 315 stores closing, they will be left with 1074 locations across the country. Here’s what we found: 47 locations have co-tenancy with Target: 4.4% 32 locations have co-tenancy with Walmart: 3.0% 4 locations have co-tenancy with Costco: 0.4% As far as locations that are in unanchored centers, it looks to be roughly 45% of Big Lots locations. Those that are not anchored by Target, Walmart, or Costco tend to be anchored by grocery, hardware stores, or fitness locations: Planet Fitness: 129 - 12.1% Harbor Freight: 113 - 10.6% Tractor Supply: 71 - 6.7% Aldi: 36 - 3.4% Home Depot: 31 - 2.9% Kroger: 16 - 1.5% Safeway: 10 - 0.9% #cre #realestate #redevelopment
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Dollar Tree (DLTR) has announced plans to close 600 Family Dollar stores in the first half of fiscal 2024, followed by an additional 370 Family Dollar and 30 Dollar Tree locations once their leases expire, totaling 1,000 closures. The decision comes amidst disappointing earnings, with Dollar Tree reporting a net loss of $1.7 billion for Q4, partly attributed to charges related to portfolio review and impairment. The closures signal a recognition of ongoing challenges in integrating Family Dollar since its acquisition in 2015, including a weak brand image and supply chain issues. Full article: https://hubs.ly/Q02s_Tb10 #dollartree #familydollar #dollarstore #retail
Family Dollar and Dollar Tree to Close Nearly 1,000 Stores Amidst Dollar General's Success | BCI BuildCentral
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🆕The retail sector in commercial real estate is facing mounting challenges, as several prominent retailers have recently filed for bankruptcy and announced large-scale store closures. How does this wave of store closures and bankruptcies within this segment of the retail sector impact the commercial real estate industry? Find out in our latest blog: https://hubs.li/Q02P_Jxm0 #Trepp #CommercialRealEstate #CRE #CRENews #CREMarket #Retail #Distress
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Dollar General continues to expand its store footprint across the country. The discounter celebrated the opening of its 20,000th store, a DG Market location in Alice, Texas. The opening is in line with Dollar General’s plans to open 800 new stores in fiscal 2024, along with 1,500 remodels and 85 store relocations. For buyers and sellers of retail real estate assets, knowing the retailers that are in a strong growth phase is crucial to knowing who to sign a lease with in order to maximize your investment dollars. NNN Trends is a free available resource for updated cap rates, consumer traffic, and national comparable sales for dozens of top retailers: https://bit.ly/42VlzXJ #DollarGeneral #CRE #CommercialRealEstate #Retail #NetLease
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Sr. Director of Market Analytics at CoStar - I provide insights on office, industrial, retail, and apartment market trends in Southern California
How Will 99 Cents Only Store Closures Impact Orange County? Retail Vacancy in Garden Grove, California, To Rise Most The discount retailer occupies over 500,000 square feet in Orange County. Anchor spaces below have been listed available for lease. - Yorba Linda Center, Placentia - asking $1.95 NNN - 14731 Goldenwest St, Westminster - asking $2.00 NNN - Red Hill Village, Tustin - Brookfield Promenade, Huntington Beach - Lake Forest Town Center - College Plaza Shopping Center, Fullerton - Pinnacle Plaza, Anaheim In early April, discount retailer 99 Cents Only announced that it would close all 371 of its stores across Arizona, California, Nevada and Texas. The majority of those storefronts are in Southern California, where a group of investors led by the former president of Big Lots and CEO of Pic ‘N’ Save Bargains is positioning to reopen 143 stores, following the initial closures and liquidation sales. 99 Cents Only — which is seeking Chapter 11 bankruptcy protection — occupies more than 90 locations in Los Angeles County, nearly 50 in the Inland Empire, 26 in Orange County and just over 20 in San Diego County, according to CoStar research. CoStar subscribers may read more here https://lnkd.in/gRZ3-9pA #99CentsOnly #orangecountyretail #OCRetailCRE
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Dallas' retail market is heating up and it doesn't seem to be slowing down! Fort Worth Report provides a very informative update on retail sector performance. Retailers and grocery stores are major demand drivers for leasing. #Retail occupancy in Dallas-Fort Worth exceeded the highest rate at 95.2%. Despite high construction costs and phased construction, grocery store construction is at a record high. 14 grocery stores are opening or under construction in the DFW area. The highest occupancy rates were observed in #shoppingcenters and communities with grocery stores as anchors. Read more here >>>https://rb.gy/tfqaga #retailcommercialrealestate #retailoffice #dallas #dfw #dallascommercialrealestate
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Flash bankruptcies have left more storesfronts vacant, but apparently the space does not sit empty for long by James Hinds The recent wave of retailer bankruptcies has indeed left many storefronts vacant. According to Morgan Stanley's data, there were 26 retailer bankruptcies in the past 12 months, marking the highest number since 2020. Among the notable closures this year are Express, Rue21, and Ted Baker, along with numerous other retailers whose store closures align with the end of their lease terms. Despite these closures, landlords are largely unconcerned. The scarcity of new mall construction has driven retail space availability to near-record lows. This scarcity has made it easier for landlords to replace outgoing tenants with more successful businesses that often pay higher rents and attract more customers. For instance, after Stein Mart filed for bankruptcy and closed its 280 locations in 2020, over three-quarters of these stores have already been re-leased. Similarly, 40% of the 721 Bed Bath & Beyond locations that closed following the retailer's bankruptcy have found new tenants within a year. Coresight Research's data further supports this trend, indicating that despite the increase in bankruptcies, U.S. retailers are still expected to open more stores than they close this year. This resilience in the retail sector highlights the adaptive strategies of landlords and the continuing demand for physical retail space, even amid significant shifts in the retail landscape driven by online competition, inflation, and changing consumer preferences. #retailbankruptcy #realestate #chapter 11 #chapter 7
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