Crossman & Company Sells 48K SF Multi-Tenant Shopping Center
RIDGELAND, MS – Crossman & Company arranged the $5,400,000 million sale of Trace Station Shopping Center, a 47,510 square foot, multi-tenant retail center located at 500 Highway 51 North in Ridgeland, Mississippi (Jackson MSA). The three single-story buildings sitting on 6.52 acres were sold to a private investor in late December.
The property is positioned at the heavily trafficked intersection of Jackson Street and Highway 51. The center was 96% occupied at the time of sale and included a great mix of local and regional tenants, such as, Edible Arrangements, Fleet Feet, Lost Pizza Company and Cazadore’s Mexican.
“The Trace Station transaction demonstrates that investors continue to have an appetite for well-located neighborhood retail centers with or without an anchor tenant,” said Brian Carolan, Director of Investment Sales with Crossman & Company.
Brian Carolan represented the Seller, a Wall Street loan pool, and partnered with Hugh Johnson with J. Walter Michel Agency, a Jackson based company, during this transaction.
About Crossman & Company
Crossman & Company was founded in 1990 and is a regional shopping center brokerage firm, which represents over 200 shopping centers in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina. For more information, visit the company’s website: www.crossmanco.com.