Edgewater Village Biloxi, MS
Download Offering MemorandumEdgewater Village
Address
2650 Beach Boulevard
Biloxi, MS 39531
Edge Capital Markets is pleased to present the opportunity to acquire Edgewater Village, a 138,175 square-foot community shopping center in Biloxi, Mississippi. The Property is situated along US-90 and along Beach Boulevard and Eisenhower Drive, a high-traffic corridor in an area with significant barriers to entry based on the prime location on the Gulf of Mexico.
Edgewater Village is 93% leased and anchored by Dollar Tree, Hibbett Sports, America’s Thrift and Furniture City, along with a diverse collection of e-commerce-resistant and complimentary tenants, promoting cross-shopping and an enduring consumer appeal. Opportunities exists to develop a future pad buildings on Eisenhower Drive and Beach Boulevard, creating additional value.
The Property is strategically located within Biloxi’s major retail corridor that features an 867,000 square-foot Edgewater Mall and Walmart Supercenter that benefit the Property’s tenants by creating significant consumer traffic. Edgewater Mall is the largest enclosed mall in the state, with 4 million annual visits.
Edgewater Village benefits from the diverse economy located in the Gulfport and Biloxi metropolitan area, which are a part of the second largest metro in Mississippi. This part of the state is home to a multi-billion-dollar tourism industry and buoyed by a large military installation along with supporting industries.
The Property is an ideal investment that provides an investor with a reliable and stable retail property below replacement costs, creating a valuable entry point for an established retail opportunity while minimizing overall economic risk. With limited availability and low market vacancy, this Property is in a prime position for healthy cash flow for years to come in a market with little market pressure from future construction.
Investment Highlights
Advantageous Cost Basis with Value-Add Potential: The ability to acquire the Property below replacement costs provides investors a valuable entry point for an established community shopping center opportunity while mitigating overall economic risk.
Broad E-Commerce Resistant Tenant Mix: Edgewater Village’s prime location has made it the top destination for retailers within the trade area. Anchored by Dollar Tree, Hibbett Sports, America’s Thrift and Furniture City, along with a diverse collection of national, regional, and local tenants that are e-commerce-resistant and complimentary, create a dynamic mix.
Edgewater Mall Periphery: Edgewater Village is strategically located within the retail epicenter of Mississippi’s Gulf Coast, a trade area anchored by the 867,000-square-foot Edgewater Mall. Developed in 1963, Edgewater Mall is the largest enclosed shopping mall on the Gulf Coast. It is anchored by Dillard’s, Belk, and JCPenney, along with 90 specialty stores that benefit from 4 million annual visits creating an extended trade area.
Walmart Supercenter Shadow Anchored: Edgewater Village is shadow-anchored by a Walmart Supercenter directly behind the Property that can be accessed through shared adjacent parking, creating cross-traffic from one of the retail sector’s most dominant driving forces and boasting over 2 million annual visitors.
Prominent Retail Location: Edgewater Village holds a coveted location at the intersection of Beach Boulevard (28,900 CPD) and Eisenhower Drive (7,800 CPD). Ease of traffic flow is dictated by the abundance of ingress/egress points to and from the Property via nine entrances.
Diverse Economy: Edgewater Village is located between the cities of Gulfport and Biloxi, which are a part of the second largest metro in Mississippi. The area is home to a multi-billion-dollar tourism industry with a wide variety of entertainment options including The Golden Nugget, Hard Rock Hotel and nine additional casinos.
Location
Team
Brokerage Team
- Phone
- 713.417.1835
- Address
515 Post Oak Blvd, Suite 175, Houston, TX 77027
