Anchor tenants own 403,000 sf of the 629,000-sf enclosed regional mall. Anchors are Dillard's, Parisian, JC Penney and McRae's. Kay's Jewelers is also among the tenants.
Mall shop occupancy is 80%, and tenants' sales average $260 per sf. Annual net operating income is expected to exceed $4.2 million.
Approximately 32 acres of the adjacent vacant land can be used for expansion or out-parcel development. A portion of the mall and land is covered by a ground lease that expires in 2044.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
