- Brand New 12 Year Double Net Lease
- Brand New Building Built-to-Suit Fred’s Super Dollar in 2013
- NN Lease — Minimal Landlord Responsibilities
- Three, Five Year Options | 5% Rent Increases at Each Option
- This Fred’s Store Features a Fully Operational Pharmacy
- Fred’s Inc. Just Announced that They will be Purchasing 865 Stores and Certain Assets Related to Store Operations From Walgreens and Rite Aid for $950 Million in Cash
Fortis Net Lease is proud to present this 16,799 square foot single tenant, investment property offering for a Fred’s Super Dollar & Pharmacy location in Poplarville, MS. Fred’s Stores of TN, Inc. signed a brand new 12 year NN lease that commenced September 27, 2013. The lease comes equipped with three (3), five (5) year options with 5% rental increase at the beginning of each option period. The building is built-to-suit Fred’s Super Dollar and is was built in 2013. The lease is guaranteed by Fred’s of TN, Inc. which is a wholly owned subsidiary of Fred’s, Inc. which is a publicly traded company with a NASDAQ ticker for “FRED”. Most of Fred’s, Inc.’s revenue is ran through the lease guarantor Fred’s of TN. Ten-ant is responsible for property taxes, property insurance, utility expenses and pays a CAM reimbursement fee. The NN nature of the lease re-quires minimal landlord responsibility with the ownership only responsible for parking lot, roof and structure.
The subject property is located in Poplarville, MS which has over 5,000 people within a 5 mile radius. The subject property is seconds from a local high school and middle school making it very convenient for parents to stop in and shop on their way to drop off and/or pick up their kids from school. In addition to the local High School the subject property is short drive south of a county hospital and a community college.