HFF Closes Sale of Memphis-Area Retail Center
- Feb 10, 2017
Southaven, Miss.— HFF closed the sale of Stateline Square, a fully-leased retail center located at 550 Stateline Road and 570 W. Main St. in the Memphis-area suburb of Southaven, Miss.
HFF marketed the asset on behalf of the seller, Conn’s HomePlus. The investment sales team representing the seller was led by HFF’s Senior Managing Director Ryan West.
The 219,914-square-foot property is home to Conn’s HomePlus, Burlington Coat Factory, Essex Bargain Hunt and Home Décor and offers a 1.4-acre site for future outparcel development. Stateline Square was developed in 1995 and renovated in 2007, with Conn’s upgrades being completed in 2016. The center is situated on the hard corner of Stateline Road and interstates 69 and 55, just over the border separating Mississippi from Tennessee in Memphis.
“Stateline Square represented a great opportunity for the purchaser, already an owner in the trade area, to acquire a well-located asset with below-market rents and a vacant pad site to boot,” said West in prepared remarks. “The property backs up to the Tennessee state line, so, while located in Mississippi, it also attracts customers from Tennessee and benefits from a diverse demographic trade area.”
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