Country Club Centre, is an 85%-occupied, 67,662 SF grocery-anchored retail center located in the Sunbelt market of Montgomery, Alabama. The center is anchored by a 35,922-square foot Winn-Dixie, an affiliate of ALDI Grocery Stores, which has a lease term through 2032 and boasts strong sales with a profitable health ratio. Winn-Dixie has an extensive store remodel planned in the next 1-2 years that is anticipated to drive additional foot traffic to the shopping center. Over the holding period, a repositioning effort is expected to provide investors with income growth, further bolstered by NOI increases brought on by the lease-up of vacant space along with contractual rent increases during the holding period.
Florissant Marketplace is a 98% occupied grocery-anchored shopping center located in Florissant, Missouri. The center is anchored by a 70,262 square-foot Schnucks, the #1 grocer by market share in the region. Schnucks has been in business since 1939 and currently operates over 115 stores across Missouri, Illinois, Indiana and Wisconsin. Schnucks has operated at Florissant Marketplace for over 20 years and has strong reported sales. Joining Schnucks at the center is an assortment of daily-needs tenants, including a new Crunch Fitness as well as Pet Supplies Plus, Wing Stop and AT&T.
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