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Institutionally Owned Power Center 2 Retail Properties Online Auction Sale Jackson, MS
Investment Highlights
- Ridgewood Court is a 240,559-square-foot power center located along a critical retail corridor in Jackson, Mississippi.
- Jackson is the capital and largest economy in the state, boasting demand drivers such as healthcare, education, government, and manufacturing.
- Immediate proximity to dense neighborhoods and Interstate 55, the main north / south arterial serving the state.
- Featuring a strong, national tenant roster including Ross Dress for Less, Rose’s, Urban Air Trampoline & Adventure Park, Dollar Tree, and FedEx.
- Ridgewood Court is surrounded by major national retailers, including Walmart, Lowe’s, At Home, and Northpark, the #1 mall in the MSA.
- At 62% occupancy, this asset presents an actionable, value-add strategy at a portion of replacement cost.
Executive Summary
Ridgewood Court is a 240,559-square-foot power center located in Jackson, Mississippi. The property was built in 1993 and is strategically located at the heart of Jackson’s main retail corridor (seeing over +10 million annual visits), surrounded by impactful demand drivers including NorthPark Mall, the Country Club of Jackson, and immediate proximity to Interstate 55, the main north/south arterial serving the state. The property is 62% occupied by a diverse tenant mix, including Ross Dress for Less, Roses, Urban Air Trampoline & Adventure Park, Dollar Tree, FedEx, and Smoothie King, among others. The revenue stream benefits from a tenancy largely offering discount and off-price goods, which are inherently sheltered from e-commerce competition, and strategically targets the surrounding consumer with household incomes exceeding $100,000 within 5 miles. Historically strong occupancy at the center presents a quick path to upside with new ownership receiving an exceptional basis, allowing for a competitive economic edge over the competition.
Jackson is the largest economy and capital of Mississippi, with its primary economic drivers of healthcare, education, government, and manufacturing. The center is located approximately 7 miles north of downtown Jackson on Interstate 55, the main north / south roadway infrastructure serving the entire state, with access directly to Memphis and New Orleans. Regional demand drivers include the Fondren Medical District, Jackson State University, Northpark Mall, Renaissance at Colony Park, and nearby major employers such as Amazon and Nissan.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Jackson is the largest economy and capital of Mississippi, with its primary economic drivers of healthcare, education, government, and manufacturing. The center is located approximately 7 miles north of downtown Jackson on Interstate 55, the main north / south roadway infrastructure serving the entire state, with access directly to Memphis and New Orleans. Regional demand drivers include the Fondren Medical District, Jackson State University, Northpark Mall, Renaissance at Colony Park, and nearby major employers such as Amazon and Nissan.
Property tours are available by appointment only. Please contact the listing broker to schedule.
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Property Facts
| Sale Condition | Auction Sale | Number of Properties | 2 |
| Type of Ownership | Fee Simple | Total Property Size | 240,559 sq ft |
| Sale Type | Investment | Total Land Area | 19.72 ac |
| Status | Active |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Total Property Size | 240,559 sq ft |
| Total Land Area | 19.72 ac |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
|
Ridgewood Court
6380-6392 Ridgewood Court Dr, Jackson, MS 39211 |
Retail | 129,724 sq ft | 1993 |
|
Ridgewood Court
6366-6370 Ridgewood Court Dr, Jackson, MS 39211 |
Retail | 110,835 sq ft | 1993 |
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Sale Advisors
Sale Advisors
Harrison Tye, Capital Markets Associate- Retail Investment Sales
Harrison Tye is an Vice President within CBRE’s National Retail Partners (NRP) Southwest. The NRP is the leading retail investment sales team in the country, backed by the most powerful retail and capital markets platform in the world. Over the past five years, the collective NRP has been involved in excess of $20 billion in retail investment sales.
Mr. Tye joined the CBRE Dallas team in 2017, specializing in retail dispositions throughout Texas, New Mexico, Oklahoma, Arkansas and Louisiana. Mr. Tye is involved in all parts of the disposition process, and represents a diverse set of clients ranging from REITS and pension fund advisors to private investors and lenders.
Mr. Tye joined the CBRE Dallas team in 2017, specializing in retail dispositions throughout Texas, New Mexico, Oklahoma, Arkansas and Louisiana. Mr. Tye is involved in all parts of the disposition process, and represents a diverse set of clients ranging from REITS and pension fund advisors to private investors and lenders.
Guy Parker, First Vice President
Guy Parker, III is a Principal of CBRE. Parker holds a BBA from Southern Methodist University and an MBA from Mississippi College. In addition, he has achieved the Certified Commercial Investment Manager designation ( CCIM) and is active in the Mississippi CCIM Chapter, the Mississippi Commercial Association of Realtors ( MCAR), Leadership MAR Board of Trustees and various community organizations. Parker Real Estate Properties, LLC is a member of the Mississippi Association of Realtors, Mississippi Commercial Association of Realtors ( MCAR) and the Multiple Listing Service ( MLS) operated by the Jackson Board of Realtors. Currently, Parker serves as President - Elect of the MS CCIM Chapter ; Member of the Leadership MS Board of Trustees ; board member of the Jackson Board of Realtors and on the Association/Operations Board of the MS Association of Realtors.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology driving commercial property deals online. With over $34 billion in total transactions, these auctions utilise best-in-class technology and real-time asset intelligence to give listings the best chance of reaching the ideal buyer. The accelerated auction timeline, thorough due diligence, and buyer qualification make transactions twice as fast and twice as reliable for agents, owners, and investors.
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Auction Contact
Pace Zambito
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 202567. Ten-X Auction Firm 1474; Arlene Richardson Auctioneer 1677
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Institutionally Owned Power Center
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