Year Build: 0
Building Size: 0 SqFt.
No of Stories: 1
Total Lot Area: 0.00 Acre
No of Parking: 0
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Heating and Cooling
Building Class: Not Specified
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Metal
Occupancy: 100%
Full Description
Fortis Net Lease is proud to present this 16,471 square foot single tenant, investment property offering for a Fred’s Super Dollar & Pharmacy location in Brandon, MS. Fred’s signed a brand new 12 year NN lease that commenced in December of 2011. The lease came equipped with a 9% rental increase in year seven (7) of the primary lease term. The lease has four (4), five (5) year options to extend with a 9% rental increase at the first and fair market value rent for the second, third and fourth. The building was built-to-suit Fred’s Super Dollar in 2011. The lease is corporately guaranteed by Fred’s Inc. which is a publi-cally traded company with a NASDAQ ticker for “FRED”. Tenant is responsible for property taxes, property insurance, utility expenses and pays a CAM reim-bursement fee. The tenant also pays a 2% management free and a $1,000 annual administration fee. The NN nature of the lease requires minimal landlord responsibility with the ownership only responsible for parking lot, roof and structure.
The subject property is located on Spillway Road and is surrounded by numerous national and local retailers such as Kroger, McDonald’s, Little Caesars, Re-gions Bank, M&F Bank and many more