Cove NorthPark Shopping Center Opportunity 78 DST
Monticello, AR
| Asset Class: | Multi-Tenant |
| Leverage: | 0% - All-Cash/Debt-Free |
| Location(s): | Monticello, AR |
| Minimum Investment: | $25,000 |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
NorthPark Shopping Center Opportunity 78 DST is a 71,068 SF regional retail center that is 95% occupied and shadow-anchored by Walmart. The property ranks as the #1 most visited shopping center in a 50-mile radius and sees 3.4M annual visits. 60% of the center is leased to strong national brands such as CATO, Hibbett Sports, It’s Fashion Metro, Pizza Hut, and Rent-A-Center and have an average tenant tenure of 21 years. Its proximity to major transportation routes, including the intersection of Highways 425 and 278, positions it advantageously for commercial and industrial activities.
MSA Details
Monticello, Arkansas, located in the southeastern region of the state, serves as a pivotal economic hub that capitalizes on its strategic location. Its proximity to major transportation routes, including the intersection of Highways 425 and 278, positions it advantageously for commercial and industrial activities. The city is a cornerstone of Drew County and is an essential node within the broader economic landscape of Southeast Arkansas. The economic drivers of Monticello are multifaceted, comprising healthcare and social assistance, education, and public administration. The city’s economy benefits significantly from the healthcare sector, which is the largest employer, reflecting the community’s investment in social services and healthcare infrastructure. Educational services, anchored by the University of Arkansas at Monticello, not only drive employment but also contribute tothe city’s vibrancy and draw a continuous influx of students and professionals to the area. The Monticello Economic Development Commission (MEDC) plays a crucial role in shaping the commercial real estate landscape. Owning strategic assets such as a 50,000 square foot speculative building and public rail access, MEDC is instrumental in attracting and retaining businesses. Real estate investors and commercial developers will find Monticello ripe with opportunities, thanks to its strategic location, growing economy, and supportive economic development initiatives.
Property Highlights
- All-Cash/Debt-Free Offering
- 95% occupied, 71,068 SF regional retail center with 3.4M annual visits
- Purchased below replacement cost
- Walmart shadow-anchored retail center
- Recent tenant lease extensions and renewals, showing strong commitment to the location
Source: Brochure, PPM, Google Maps, CoStar
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
