Retail Investment Offering Windsor Square
INVESTMENT OFFERING
101 - 245 Seven Oaks Drive N | Knoxville, TN 37922
SRS Real Estate Partners, as exclusive broker, is pleased to offer Windsor Square- a 299,329+/- square foot community center, anchored by Big Lots, Burlington Coat Factory, Old Time Pottery and Carmike Cinemas and located on Kingston Pike in Knoxville, TN.
INVESTMENT OFFERING GLA Community Shopping Center
299,329+/- SF
SALES PRICE
OCCUPANCY
$15,800,000.00 (8.50% Cap Rate) 99.04%
ANCHOR TENANTS • •
Burlington Coat Factory • Movies 7 (Carmike Cinemas) •
Big Lots Old Time Pottery
NATIONAL/REGIONAL TENANTS • •
Play It Again Sports Savvi Formal Wear
• •
AMVETS Thrift Store Hertz Corp
APRIL 2015 (AS-IS) NOI
$1,349,760.00
INVESTMENT HIGHLIGHTS
• Strategically positioned in the heart of Knoxville’s Kingston Pike-
the region’s pre-eminent retail corridor • National anchors comprise 78% of the overall GLA at Windsor
Square • Strong 82% overall national tenancy • Well-situated less than one mile off I-40/75 between West Town
Mall and the Turkey Creek retail node • Strong density with 120,000 in a 5-mile radius, 275,000 in a 10-
mile radius and a projected annual growth rate of 3% through 2018 • ‘A’-caliber market- average household incomes of $90,000 in a
5-mile radius • Located 10 miles southwest of downtown Knoxville- a bourgeoning
college town home to the University of Tennessee and its 27,000 students
CONTACT
Kyle Stonis, CCIM | 678.420.1393
[email protected] | TN Lic. # 317867 Pierce Mayson | 404.231.4696
[email protected] • New 10-year anchor lease- Old Time Pottery (commenced August
2014) • Synergistic tenant mix creates a low-cost goods and services one-
stop shopping destination for consumers
SRS Real Estate Partners 3400 Peachtree Road NE, Suite 1100 | Atlanta, GA 30326 404.231.2232 | SRSRE.COM The information contained herein was obtained from sources deemed to be reliable. However, SRS Real Estate Partners makes no guarantees, warranties, or representations as to the completeness or accuracy therof. Published: 08.01.2012
Retail Investment Offering Windsor Square
101 - 245 Seven Oaks Drive N | Knoxville, TN 37922
FAVORABLE NATIONAL ANCHOR TO SHOPS RATIO Windsor Square has an advantageous tenant composition marked by
STRATEGIC POSITION IN AN ‘A’ MARKET: KINGSTON PIKE
78% national anchors: • Big Lots • Burlington Coat Factory • Old Time Pottery • Movies 7 (Carmike Cinemas)
retail corridor which is home to the largest concentration of national
Windsor Square is strategically located in the heart of the Kingston Pike retailers in the region, drawing consumers from miles around Knoxville. Windsor Square enjoys combined traffic counts of roughly 45,000+ VPD in front of the Property with an additional 170,000 on I-40/75 positioned less than one mile away.
LEASING ACTIVITY Old Time Pottery just signed a new 10-year lease adding to the discount retailer synergy in the Property and strengthening the anchor base and aggregate lease term in the Center. RECENT CAPITAL IMPROVEMENTS Over the last three years, there have been significant capital improvements to Windsor Square which include roof, façade and parking lot improvements amounting to roughly $565,000. • 2011- Exterior painting ($40,767) • 2012- Roof replacement over Big Lots, AMVETS, Kings Beauty & Units 223-237 ($229,385) • 2013- Re-surfacing of parking lot ($47,298) and roof replacement over Movies 7, Play It Again Sports & Units 201-217 ($247,480) EXCELLENT DEMOGRAPHICS 5-mile Population 120,000 Avg HH Income $89,000
10-mile 275,000 $81,000
SRS Real Estate Partners 3400 Peachtree Road NE, Suite 1100 | Atlanta, GA 30326 404.231.2232 | SRSRE.COM The information contained herein was obtained from sources deemed to be reliable. However, SRS Real Estate Partners makes no guarantees, warranties, or representations as to the completeness or accuracy therof. Published: 08.01.2012