Newmark, as exclusive advisor, is pleased to present for sale Cedar Place – a 22,052 SF unanchored strip center located in a well-established and affluent suburb of Jackson, Mississippi. The subject property consists of 19,910 square feet of inline retail space and a 2,142 square foot free-standing, separately parceled Take 5 Oil Change. An impressive 55% of the property is occupied by tenants who have been at this location for at least seven plus years. Furthermore, the average base rent for the majority of the inline tenants is significantly below-market – as evidenced by newer leases executed at 30% higher base rent since 2022.
Only minutes from Interstate-20 and Mississippi College (6,500+ students, faculty & staff), Cedar Place is positioned near the high traffic intersection of US Highway 80 and Springridge Road boasting a combined daily traffic count of more than 51,000 vehicles per day. Additionally, the subject property is adjacent to Mississippi’s top performing Kroger grocery center with fueling station that is ranked 1 of 28 (Source: PlacerAI). Combined with its affluent demographic profile, Cedar Place presents investors with the opportunity for a stable and a growing cash flow for years to come.