Retail

Summer Center

4270-4318 Summer Ave, Memphis, TN, 38122-4044, US

Summer Center_Property for Sale

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Summer Center 2_Property for Sale

Asset description

JLL is pleased to announce the opportunity to acquire Summer Center, a high-performing Kroger-anchored center with a well-tenured tenancy. Situated in the Memphis MSA, the Property is surrounded by numerous economic drivers, including Memphis International Airport (the busiest cargo airport in North America), FedEx corporate headquarters (30,000 employees), and International Paper corporate headquarters (34,000 employees). The Property is strategically positioned on Summer Ave (30,550 AADT) with proximity to I-240 (206,483 AADT) and I-40 (96,170 AADT). The Property is 7 miles east of Downtown Memphis and adjacent to "East Memphis," one of the most affluent neighborhoods in the Memphis MSA, boasting average household incomes exceeding $200,000 and several country club communities. The Property offers multi-anchor drawing power from Kroger, Ross Dress for Less, Aaron's, and Five Below. 

Attributes

Building area Net
136,673 sf
Occupancy
97.00%
Year built
1957

Investment highlights

  • Kroger Anchored with Fuel Center
  • Multi-Anchor Drawing Power
  • Well-Tenured & High Performing Tenancy
  • Well-Established Memphis Location
  • Strong Traffic Counts with Signalized Access
  • Significant Leasing Momentum
Summer Center 4_Property for Sale
Summer Center 4_Property for Sale

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Last updated
Nov 7, 2022