OFFERING INTRODUCTION
Matthews Real Estate Investment ServicesTM, as exclusive broker, is pleased to offer the opportunity to acquire Hurricane Creek, a 62,590± SF neighborhood center, grocery-anchored by Publix, located on the southeast side of Chattanooga, TN.
Anchored by a proven neighborhood Publix
Providing a highly coveted necessity-based shopping anchor and the #1 most desired grocer in the Southeast
Attractive 72% anchor-to-shop space ratio
Creating notable stability for investors seeking a more hands-off ownership scenario
Situated in the East Brainerd corridor of Chattanooga
A rapidly growing market, which offers abundant outdoor recreation and a revitalized downtown area full of restaurants, shopping and tourist draws
77% of the Tenant roster consists of national retailers
Further highlighted by a blend of e-commerce resistant shops, including medical, restaurant and beauty service providers
With tenure at the Property dating to 2007, Publix boasts a solid foothold in the community
Supported by strong reported sales which are up an average of 9.2% YOY since 2019
Well-positioned at the signalized intersection of busy East Brainerd Rd (TN-320) and Hurricane Creek
Accessing 28,085 VPD in front of the Property
Highly affluent and growing community
Highlighted by an Avg. HH Income of $118,192 within one mile of the Property
A new roof was installed over the entirety of the Center in 2021
Mitigating any potential CapEx requirements for an incoming Buyer
PROPERTY ATTRIBUTES
Anchored by the #1 Grocer in the Southeast
With tenure at the Property since 2007, Publix at Hurricane Creek boasts an established community consumer base highlighted by strong, growing sales, which have been trending up significantly overall since 2019. A neighborhood mainstay, the store reports strong sales, averaging a tremendous 9.2% YOY growth since 2019.
77% National Credit Tenants
Bolstered by Publix, Hurricane Creek is comprised of roughly 77% national credit tenants, including Domino’s Pizza, Great Clips and Benchmark Physical Therapy. Further, the entirety of the existing tenant roster consists of advantageous, e-commerce proof retail uses, counting two medical service providers, food, beverage and salon services.
Fundamental Retail Strength
With an enviable location at the signalized intersection of E Brainerd Rd (TN-320) and Hurricane Creek Rd, the Property benefits from excellent fundamentals, which not only position the center for long-term success, but also create an appealing low-maintenance ownership scenario. Part of a growing Chattanooga sub-market, Hurricane Creek accesses 28,085 VPD along with an affluent, local consumer base with ample disposable income. A highly attractive 72% anchor-to-shop space ratio further fortifies the asset’s stability while also mitigating the leasing and management requirement, creating an excellent opportunity for passive investors.
MARKET OVERVIEW
Hurricane Creek is situated on the southeast side of Chattanooga, roughly 14 miles from the bourgeoning downtown area, which is home to major tourist draws like the Tennessee Aquarium, the Riverwalk area, shopping and restaurants.
Chattanooga, TN-GA MSA
Situated just southeast of the downtown Chattanooga area and Interstate 75, Hurricane Creek fronts the E Brainerd Rd retail corridor - a high growth area of the city with notable newer retail development. Having experienced a renaissance over the last 10 years, which has fueled its explosive growth; Chattanooga offers residents an extremely high quality of life with a bustling downtown, beautiful riverfront, majestic mountain views and some of the best outdoor recreation in the country. In addition to an attractive cost of living 5% below the national average, Chattanooga has some of the fastest internet in the Western Hemisphere, supporting the 3rd fastest-growing job market in the country over the last several years.
PHOTO GALLERY
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