- VERY RARE 9% Rent Increase in Year 7
- High Quality Construction
- 4 Sided Brick & All Concrete Parking Lot
- New 12 Year Double Net Lease (7 Years Left)
- Excellent Location w/ Ideal Demographics
- NN Lease—Minimal Landlord Responsibilities
- Four (4), Five (5) Year Options With Increases at Each
- This Fred’s Store Features a Fully Operational Pharmacy
- 5 Mile Population is Projected to Grow by 6.17% from 2014-2019
- 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 16,471 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 publicly traded company with a NASDAQ ticker for “FRED”. Tenant is responsible for property taxes, property insurance, utility expenses and pays a CAM reimbursement fee. The tenant also pays a 2% management free and a $1,000 annual ad-ministration 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, Regions Bank, M&F Bank and many more.