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| Brian Carolan |
RIDGELAND, MS – Crossman & Company arranged the
$5,400,000 million sale of Trace Station Shopping Center, a 47,510
square foot, multi-tenant retail center located at 500 Highway 51 North in
Ridgeland, Mississippi (Jackson MSA).
The three single-story buildings sitting on 6.52 acres were
sold to a private investor in late December.
The property is positioned at the heavily trafficked
intersection of Jackson Street and Highway 51.
The center was 96% occupied at the time of sale and included
a great mix of local and regional tenants, such as, Edible Arrangements, Fleet
Feet, Lost Pizza Company and Cazadore’s Mexican.
“The Trace Station transaction demonstrates that investors
continue to have an appetite for well-located neighborhood retail centers with
or without an anchor tenant,” said Brian Carolan, Director of Investment
Sales with Crossman & Company.
Carolan represented
the Seller, a Wall Street loan pool, and partnered with Hugh Johnson
with J. Walter Michel Agency, a Jackson based company, during this transaction.
For a complete
copy of the company’s news release, please contact:
Sydnie Cobb
Crossman &
Company
407.581.6261
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