Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Property Description

JLL has been retained as exclusive advisor for the sale of Uptown Vicksburg, formerly known as Vicksburg Mall in Vicksburg, Mississippi, (the property), a well-located, regional shopping center with limited direct competition and substantial upside potential. Comprising approximately 356,327 square feet (SF) of gross leasable area (GLA), the property offers a strong anchor and bigbox lineup comprised of Belk (62,006 SF, non-owned), Dillard’s (101,680 SF, non-owned) and Hobby Lobby (54,358 SF) along with GSA and University tenants that help drive daily foot-traffic.


The property is comprised of the developed portion which consists of 35.86 acres (22.11 acres owned) as well as an additional 54.76 acres of surrounding land ready for development. The property is located directly off of Pemberton Square Blvd and the interchange of Interstate 20, two of the most heavily trafficked roads in Vicksburg. I-20 is the major east/west highway in the region, connecting Monroe, LA to the west and Jackson, MS to the east. 

Investment Highlights

  • The property features a diverse tenant mix. Complimenting big box tenants Dillard’s, Belk and Hobby Lobby, Uptown Vicksburg is also home to the city’s only movie theatre and bowling alley, B&B Theaters and Fun Lanes, with the nearest competition 49.1 and 36.9 miles east, respectively. The Property is also home to a new GSA lease with the Social Security Administration, the US Armed Forces Recruiting Center and Alcorn State University – all of which help to diversify Uptown Vicksburg's revenue streams and drive daily foot traffic.
  • Uptown Vicksburg offers the opportunity to immediately increase NOI at the Property via lease-up of 19 available small shop suites totaling approximately 46,653 square feet, presenting prospective purchasers with meaningful near-term value enhancement potential.
  • Uptown Vicksburg continues to generate tenant interest from large format national retailers, including grocers and discount retail chains, that have expressed interest in taking more than 100,000 of existing space at the Property.
  • Uptown Vicksburg enjoys a strong competitive position as the closest competing regional mall is more than 50 miles driving distance to the east in Ridgeland, MS.
  • Situated directly off US-61 and I-20, the major north/south and east/west highways in Vicksburg, the Property is easily accessible from throughout the trade area. Highly visible and easily accessible, Uptown Vicksburg is situated along Pemberton Square Blvd – a heavily traveled area with traffic counts exceeding 16,000 VPD. 
  • Uptown Vicksburg serves as the anchor of the Vicksburg, MS regional retail hub, which in addition to the property’s national retailers of Belk, Dillard’s and Hobby Lobby, is home to numerous prominent national retailers including Home Depot, Walmart, Kroger and TJMaxx.
  • Vicksburg has a diverse and stable employment base, led by the U.S. Military Corps of Engineer’s Engineering & Research Development Center, The Port of Vicksburg and a thriving gambling industry which includes multiple casinos.
  • The Port of Vicksburg, one of the metro's main economic drivers, is the 15th largest inland port in the country and maintains a US Customs Service which allows it to process cargo from as far away as Australia and Japan. A wide variety of commodities are currently handled at the port including metal, steel, aluminum, ores, chemicals, and grains and beans.
  • Vicksburg is home to the Headquarters of the U.S. Military Corps of Engineers and the world-renowned Corps of Engineer’s Engineering & Research Development Center (ERDC). With a total workforce of more than 2,300 and four of its seven US laboratories located in Vicksburg, the ERDC brings a stable employment force to the region.
Last Updated Date: 04 Jan 2021
Dave Monahan
Dave Monahan
Senior Managing Director, Capital Markets
Cameron Pittman
Cameron Pittman
Senior Director, Capital Markets
License details
201226698

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Last Updated Date: 04 Jan 2021

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