Big Lots | Memphis, TN
Sands Investment Group is Pleased to Present Exclusively For Sale the 40,396 SF Big Lots Gross Lease Located at 6777 Winchester Road in Memphis, Tennessee. This Deal Includes a Single Tenant Big Lots With Long Term Occupancy History and Low Management, Stable Cash Flow Priced Below Replacement Cost, Providing For a Unique Investment.
SINGLE TENANT BIG LOTS WITH LONG TERM OCCUPANCY HISTORY
- Publicly Traded, National Tenant – 100% Leased to Big Lots (NYSE: BIG) With a Market Cap of $1.35 Billion
- Big Lots Was Founded in 1967 and Currently Has Over 1,428 Locations in 47 States ; During the Pandemic, Big Lots Stock Experienced a Significant Increase in Value Along With Exponential Growth in Store Sales Nationally Proving to Be a National Needs Based Retailer
- Long Term Commitment – Over the Years Big Lots Had the Opportunity to Relocate Within the Retail Trade Area Yet Stayed Committed to the Property Proving the Success of This Location
- Big Lots Has Three Years Remaining on the Initial Lease Term With Four (4) – Five (5) Year Options to Renew
LOW MANAGEMENT, STABLE CASH FLOW PRICED BELOW REPLACEMENT COST
- Given Big Lots Has Stayed Committed to This Location, a New Investor Should Have High Confidence That Big Lots Will Renew Their Lease Term Whether Through an Extension on the Initial Term or Rolling Into the Option Periods
- Gross Modified Lease Terms – Landlord Has Minimum Oversight For Roof, Structure and CAM
- Priced at $42 Per Square Foot, the Property Will Trade Significantly Below Replacement Value Estimated at $150 Per Square Foot
- Big Lots Has Fixed Rent Increases at the Start of Each Option Period Providing a New Investor a Hedge Against Inflation
LOCATED IN QUALITY NEIGHBORHOOD SHOPPING CENTER CONSISTING OF SYNERGISTIC MIX OF TENANTS
- Big Lots Serves as the Anchor Tenant Amongst a Highly Complementary Mix of Retail Tenants Drawing in Consumers For Various Retail Needs
- Strategically Located in a Highly Visible, High Traffic Location With Over +36,000 Cars Per Day, Winchester Road is One of the Major Arterials Running East and West Through Memphis
- The Landings Apartment Complex, Located Directly AcrossWinchester Road Consists of 292 Units
In Cooperation With Sands Investment Group Tennessee, LLC – Lic . #263973 BoR: Kaveh Ebrahimi Lic . # 344496
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