Pep Boys - Biloxi, MS

JLL is pleased to offer the opportunity to acquire a fee simple asset located at 2580 Beach Blvd in Biloxi, MS, adjacent to Edgewater Mall. The asset generates total annual base rent of $106,903 and features a remaining lease term of 4.0 years with Pep Boys as the tenant, a leading automotive aftermarket provider founded in 1921 operating over 850 locations with 8,000 service bays across the U.S. and Puerto Rico, serving over 7 million customers annually. With over 14,000 technician certifications and hundreds of stores named to the Carfax Top-Rated Service Centers list for 2024, Pep Boys continues to expand its footprint through strategic acquisitions, reinforcing its position as a major player in the automotive service industry offering comprehensive maintenance, repair, and tire services.

The asset is strategically positioned on an outparcel to Edgewater Mall and a Walmart Supercenter along Beach Boulevard, a highly trafficked retail thoroughfare with traffic counts exceeding 30,000 vehicles per day. The property benefits from outstanding surrounding demographics in the Biloxi MSA, with over 416,000 residents and an average household income exceeding $87,000 within a five-mile radius. Pep Boys is currently in their first option period with 4 years remaining, followed by one additional 5-year renewal option featuring a 10% rent increase. This investment presents the opportunity to acquire a stabilized, income-producing asset anchored by a creditworthy national tenant with excellent real estate fundamentals in a high-growth suburb of the Mississippi Gulf Coast.