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LOUISVILLE, KENTUCKY at
INVESTMENT HIGHLIGHTS SUBJECT OFFERING
id-America Real Estate Corporation presents the opportunity to acquire MFestival at Jefferson Court, a grocery-anchored shopping center located in Louisville, Kentucky.
Address: 4501 Outer Loop Louisville, KY 40219
GLA: 168,697 SF
Grocery Anchor: Kroger
Significant Non-Anchor Party City, Boot Barn, Visionworks, Tenants: McAlister’s Deli, Kirkland’s, and Sleep Outfitters
Occupancy: 100%
WALT: 7.1 years
Year Built: 1988
Traffic Counts: Outer Loop – 30,900 VPD Preston Highway (State Route 61) – 29,000 VPD Jefferson Boulevard – 11,000 VPD Interstate 65 – 128,000 VPD Interstate 265 loop – 83,000 VPD at KEY FEATURES
DOMINANT GROCERY-ANCHORED SHOPPING CENTER – Festival at Jefferson Court is a successful grocery-anchored shopping center. Kroger has been operating at the center since inception in 1988 and generates huge sales volumes with a strong positive trend. Kroger agreed to an early renewal providing 12 years of firm term through 2033 demonstrating its long-term commitment to the shopping center. In recent years, the grocer expanded its store to include liquor offerings, incorporated its Clicklist Curbside Pickup service, and developed a fuel center
EXCEPTIONAL LOUISVILLE LOCATION – Louisville is the largest city in Kentucky with a population of 1.27 million within the MSA. The city is home to a diverse array of entertainment attractions including Churchill Downs, home of the Kentucky Derby. The headquarters of numerous international corporations are also located in Louisville including Yum! Brands, Humana, Brown-Forman, Kindred Healthcare, and Papa John’s Pizza. Additionally, the University of Louisville is a major fixture in DEMOGRAPHIC PROFILE WITHIN A 5-MILE RADIUS: the community with a premier athletic program and over 22,680 students.
DRAWING POWER – Festival at Jefferson Court is located at the northwest corner of Outer Loop (30,900 VPD) and Jefferson Boulevard. The property’s proximity to Interstate 65 (128,000 VPD) and the Interstate 265 loop (83,000 VPD) further enhance traffic at the center, drawing from the communities to the south including Hillview, Ashville, and Brooks. The strong performing grocer, excellent tenant line- POPULATION AVERAGE HH INCOME MEDIAN HOME VALUE up, and PetSmart and TJ Maxx shadow anchors also benefit the property. 176,392 $65,947 $148,711
DENSE, INFILL DEMOGRAPHICS – The surrounding area boasts a solid local profile. There are 176,500 residents enjoying average household incomes of $66,000 within a 5-mile radius. Since 2010, the population has grown by almost 4.6% and is expected to grow by another 2.3% in the next 5 years within the same radius.
$ POTENTIAL YIELDS – Offered “free and clear” of any existing debt, providing the opportunity for a buyer to take advantage of the debt markets. DAYTIME POPULATION MEDIAN AGE HOUSING UNITS 171,465 38.0 70,804 at
Tenant Unit Square Feet Tenant Unit Square Feet Tenant Unit Square Feet Kroger A0A 58,890 Spectrum A0V 3,520 City Gear D0D 5,397 H&R Block A0B 2,305 Lane Bryant C0A 4,480 Visionworks D0G 5,613 Boot Barn Western & Work Wear A0F 9,100 Results Physiotherapy C0D 4,636 Wingstop D0L 1,829 LEASING Nadia Beauty Supply A0H 19,200 Rainbow C0G 5,625 Papa John's Pizza D0M 1,868 Kirkland's A0M 8,775 The UPS Store C0H 1,200 Cricket Wireless D0N 1,425 Lavish Nails & Spa A0N 1,800 Party City C0K 14,420 McAlister's Deli D0R 4,200 Miracle-Ear A0P 1,400 Sleep Outfitters C0T 5,000 Total 168,697 Game Xchange A0R 2,000 Burnette Family Dentistry D0A 2,494 PLAN Sally Beauty A0S 2,000 Malone Staffing D0C 1,520
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