Closed Transactions

Cumberland Square - Big Lots Recent Renewal

16-190 Cumberland Square, Crossville, TN, 38555
  • Agent(s):
    Kyle Hartung , Jeff Sabo
  • Name:
    Cumberland Square - Big Lots Recent Renewal
  • Address:
    16-190 Cumberland Square, Crossville, TN, 38555
  • Total SF:
    52,048
  • Lot Sizes:
    5.46 Acres
  • Option:
    For sale
  • Category:
    Investment Sales Sold

Details

For sale is the 100% fee-simple interest in Cumberland Square, a 100% leased  Big  Lots  (NYSE:  For sale is the 100% fee-simple interest in Cumberland Square, a 100% leased  Big  Lots  (NYSE:  BIG)  anchored  shopping  center  in  Crossville, Tennessee.    Big  Lots  accounts  for  60%  of  the  GLA  and  has  been  a tenant in the property for the past 19 years.   They recently exercised their 5 year option, giving them term through 2025 while agreeing to a 16% rental increase.   Concurrently with the lease extension, they also fully  remodeled  and  upgraded  their  store’s  interior  to  the  newest prototype.     Additional  tenants  in  the  property  are  Avalon  Center, Bargain Beds, and EZ Rentals.  As of 2019, Rural King has opened in the former Kmart building adjacent to the property.  Rural King has a super- regional   draw   in   county   seat   markets   and   is   already   generating incredible  traffic  for  the  property.    Rural  King  will  be  granted  an easement at closing for the limited display or outdoor equipment on a portion  of  the  subject  parcel.   For  the  maintenance  of  the  easement area,  Rural  King  has  agreed  to  contribute  $1,500  annually.     The property is located in the center of Crossville, which is a thriving county seat   market   that   draws   customers   and   visitors   from   throughout Cumberland County.   Other nearby retailers include Kroger, Food City, Dunham’s, Lowe’s, Walmart, Staples, IGA, Long John Silver’s, Pizza Hut, Dairy Queen, Hardee’s, Krystal, CVS, Autozone, Burger King, and many more.

Location

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