300 E Meighan Blvd Gadsden, AL 35903
OFFERING INTRODUCTION
Matthews™, as exclusive broker, is pleased to present the opportunity to acquire Coosa Town Center, a 105,979± SF community center shadow-anchored by a high performing Walmart and anchored by TJ Maxx, Old Navy and Burlington - strategically positioned within the retail nucleus of Gadsden, AL.
INVESTMENT HIGHLIGHTS
Best-in-market retail destination, which is home to a synergistic mix of national credit anchors
Including T.J.Maxx, Burlington, and Old Navy
Shadow-anchored by an extremely high performing regional draw — Walmart Supercenter
Ranked the #15 store of 102 in Alabama (top 14%) for consumer foot traffic and in the top 22% in the entire U.S. (Placer.ai)
Strategically positioned within the heart of Gadsden’s retail nucleus, on the east side of the downtown area
Fronting E Meighan Blvd (US-431) and surrounded by major retailers like Hobby Lobby, Ross, Five Below, Ulta, Walmart Supercenter, Aldi, Academy Sports, and Lowe’s
Extremely strong tenant roster comprised of over 87% national retail tenants
Providing ample stability while also facilitating buyer ability to secure attractive financing, if required
Very advantageous average remaining anchor lease term of 7 years
Bolstered by T.J.Maxx, which recently renewed for 10 years through 2035, and a new 10-yr lease with Burlington
Main & Main High Traffic Location with Strong Shopping Center Fundamentals
Including solid visibility and frontage along US-431 with 58,620 combined VPD, a position between two signalized intersections, cross-access with Walmart — a major regional consumer draw, prominent signage, a signalized main entrance, ample parking, and ease of access
Excellent value creation opportunity via the back-fill of a 10,600+ SF junior anchor box with active interest
Building on strong momentum via Burlington’s new 10-yr lease, occupying 19,400+ SF of space
MARKET OVERVIEW
Situated within the heart of the Gadsden retail node, just east of downtown; Coosa Town Center is surrounded by regional draws like Walmart, Hobby Lobby, Ulta, Ross, Academy Sports, Lowe’s and more.
LOCATION ATTRIBUTES
Gadsden, AL
Situated in northeast Alabama, Gadsden is located along the Coosa River – roughly 55 miles northeast of Birmingham, 90 miles southwest of Chattanooga, and 70 miles southeast of Huntsville. Historically the second most important city in the state for commerce and industry, behind Mobile, Gadsden’s Coosa River port was formerly a major river port in the Southeast. The county seat for Etowah County, Gadsden is now a center for healthcare, education, and food processing. In addition to major installations for Koch Foods and Tyson Foods, the city is also home to Gadsden State Community College – the second largest two year college within Alabama’s state university system.
Top Industry Sectors
Major Area Employers
TENANT HIGHLIGHTS
Top Retail Asset in the Market with Best-in-Sector Anchors & 7+ Yrs of Avg. Remaining Term
A market-dominant retail asset, Coosa Town Center is anchored by best-in-sector national credit retailers, including T.J.Maxx, Burlington – on a new, 10-yr lease, and Old Navy. With over 20 years of tenure at the Property and a recent 10-yr. extension through 2035, T.J.Maxx ranks as the #7 store in Alabama and in the top 19% in the country.
87% National Credit Tenant Roster
With the recent addition of Burlington, backfilling the majority of a former bealls box, the tenant roster at Coosa Town Center is occupied by a synergistic mix of 87% national tenants; including junior anchors like Petco and Rack Room, as well as shops, including Firehouse Subs, Sally Beauty, Xfinity, Great Clips and GameStop.
Excellent Leasing Momentum + Value-Add Opportunity
Building on momentum established via a new 10-yr anchor lease with Burlington for 19,000± SF, an incoming Buyer has an excellent opportunity to add value to Coosa Town Center via the lease-up of a remaining 11,000± SF junior anchor box (over 10% of the Total GLA) with active interest from national retailers.
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