6895 Stage Rd
Memphis, TN 38133
Memphis Goodwill, Inc. · Retail Property For Sale

The subject investment is comprised of a Goodwill retail store and processing center, including the corporate offices for Goodwill Memphis, Inc., a 90 year old local non-profit organization, located at 6899 Stage Road in Memphis, Tennessee. The property sets on approximately seven acres and is comprised of three buildings; a retail outlet and distribution processing center, a vehicle storage and utility maintenance building, and a 9,792-square foot corporate office building. The retail building of approximately 51,554 square feet was constructed in 1988 and the office building was completed in early 2012. A third building of steel construction is approximately 2,400 square feet and is a maintenance and storage facility. This is a sale/leaseback investment. Goodwill Memphis, Inc. (“Goodwill”) will execute at closing a 20- year absolute-net lease with a base rent starting at $425,000 per year. The tenant will be responsible for all maintenance, repair and replacement of the improvements. The lease calls for 5.0 percent rental increases every 5 years. The tenant will have three 10-year renewal option terms. Stage Road has approximately 33,000 vehicles per day and is a major east-west commercial artery. Two miles east of Goodwill on Stage Road is Wolfhouse Galleria Mall, Target, Home Depot, Academy Sports, Hobby Lobby and other retailers totaling over four million square feet of shopping centers.