May 24, 2021 – Rob DiFranco of Horvath & Tremblay has successfully completed the sale of the Shoppes at Wolfchase in Memphis, Tennessee. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $3,500,000.
The Shoppes at Wolfchase are located at 8361 US Highway 64 in Memphis, Tennessee. The building, constructed in 2002 was renovated in 2020 and is comprised of 6,284 square feet on a 1.07-acre parcel of land. The property is 100% occupied by Xfinity and Chicken Salad Chick. Xfinity signed a new 7-year double net lease and has two (2), 5-Year renewal options. The lease calls for 10% rent increases every five years throughout the base term and renewal options. Chicken Salad Chick signed a new 10-year double net lease and has two (2), 5-year renewal options. The lease calls for 10% rent increases every five years throughout the base term and option periods. The property is located along one of the best retail corridors in Memphis, where it is an outparcel to the Wolfchase Galleria Mall, the largest mall in Shelby County. The property is also strategically positioned at a signalized intersection of US Highway 64 and East Mall Drive, and sits across the street from a Walmart Supercenter, Sam’s Club, and a Lowe’s, further driving traffic to the immediate area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.