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Classic Auction - Retail

REO Bemis Square – 29K VPD

1320 S. Highland Avenue, Jackson, TN 38301

  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 13.55 Acres
  • Year Built
  • 1978
  • Number of Floors
  • 1
  • Parking Count
  • 812
  • Occupancy
  • 52.52%
  • Occupancy as of
  • Nov 18, 2020
  • Retail Type
  • Neighborhood Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • Goodwill, Coram Alternate Site Services
  • Property Size
  • 130,310 Sq Ft

Cash-Flowing Retail with Value-Add Upside

Investment Highlights

  • ±52.5% occupied Goodwill anchored retail center situation on 13.55 AC
  • Significant upside via vacancy absorption of ±61,871 SF at long term market rates
  • 2020 population of 35,678 and avg HH income of $44,721 within 5-miles
  • High traffic area with optimal visibility, excellent accessibility, and direct frontage along US-45/S Highland Ave with ±29,000 VPD
  • Nearby national/credit tenants include Walmart Supercenter, Lowe’s, Dollar Tree, Subway, Walgreens, Zaxby’s, Dollar General, Food Giant, AutoZone, Jack’s, and more; Increases consumer draw to the trade area and promotes crossover shopping
  • Jackson MSA is well located between the two largest markets in Tennessee – Memphis and Nashville.


Offering Details

 CBRE and RealINSIGHT Marketplace are pleased to present Bemis Square located in Jackson Tennessee, centrally situated between Memphis and Nashville. This REO property is being sold “free and clear” of any existing debt.  Bemis Square is a ±130,310 SF community shopping center with 812 parking spaces situated on ±13.55 acres. The Property is currently ±52.5% leased to Goodwill Industries of Middle Tennessee, Coram, and Verizon Wireless. The Property has four vacancies ranging in size from ±1,300 square feet to ±55,763 square feet. 
 
Jackson is in Madison County and is considered the regional center of West Tennessee because it is equidistant form Memphis and Nashville along I-40.  The Jackson trade area serves both regional and community retail customers due to its geographic pull and its proximity to nearby towns including Humboldt, Medon, and Three Way. Bemis Square has significant visibility to heavily travelled US Highway 45 (29k VPD) and is approximately 8 miles south of I-40 with direct access to Memphis and Nashville. National retailers within a mile of the Property include Walmart Supercenter, Lowe’s, Dollar Tree, Subway, Walgreens, Zaxby’s, Dollar General, Food Giant, AutoZone, Jack’s, and more.

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Platform Fee

The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • John Roebuck

    c/o Fisher Auction Company Inc.

    License: 1702 TN Broker No. 00022430