Uptown McComb
Closed1722 Veterans Blvd, McComb, MS 39648
Property type
Retail
Price
Market to Determine
Building size
345,426 sf
Rentable area
345,426 SF
Year built
1987
Year renovated
2023
Occupancy
96.68%
Zoning code
Lot size
31.64 Acres
Sold/status
Sold · Date unknown
Net Operating Income
$1,659,266
Property description
Franklin Street is pleased to offer for sale Uptown McComb in McComb, Mississippi. McComb is centrally located between Jackson and New Orleans on Interstate 55 in southern Mississippi. Uptown McComb was formerly known as Edgewood Mall and has undergone a re-merchandizing plan, which brought a significant amount of national big box retailers to the property with external entrances. New additions since the redevelopment from a traditional mall site layout include: Hobby Lobby, Marshalls, Aldi, Bealls, Planet Fitness, Five Below, and Ross Dress for Less. Each of these retailers are new to market and do not have a competing location for 55+ miles, allowing for a larger trade area for the center. Along with the new retailers ownership has taken on a significant amount of property improvements including new roof, new signage, LED lighting, and significant capital improvements to tenants spaces. Uptown McComb has seen strong leasing momentum and continued NOI growth since COVID year after year. The corridor serves as a major retail hub for the trade area with other traffic generating retailers including Walmart, Lowes, Chick-fil-A, Starbucks, Walgreens, among others. Economic drivers for the area include increasing manufacturing industries, agriculture, and the Southwest Mississippi Regional Medical Center.
Property highlights
- Dominant 345,426 SF Regional Shopping Center: anchored by a national tenant lineup and shadow-anchored by a Walmart that ranks in the top 72 percentile for foot traffic (Placer.Ai)
- Newly Redeveloped Wing with New 10-year Leases from National Anchors: Aldi, Ross Dress for Less, and Bealls. Newly signed Planet Fitness with 20-year lease
- 1,200+ ft of Frontage on I-55 with ~29,000 VPD
- Large Regional Trade Area: most retailers do not have another location for 55+ miles
- Excellent Signage: facing the main thoroughfare and interstate for major tenants
- Spin-off Strategy: Ability to re-parcel the plat and utilize spin off strategy to enhance valuation
- Upside Opportunity Should Belk Ever Leave: Only paying $1.39 PSF
- Stable Income Stream: 73% of income stream is coming from national Big Box Retailers
- Accretive Outparcels Driving Additional Traffic to the Location: Chick-fil-A, Starbucks, McDonalds, First Bank