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Circuit City Portfolio - 8 REO Properties  CB Richard Ellis is pleased to offer qualified investors the opportunity to acquire a portfolio of 8 REO former Circuit City locations in Arkansas, Louisiana, Minnesota, Oregon, Tennessee, and Texas. Specifically, these properties are located in major retail nodes within the following major Metropolitan Statistical Areas: Houston, TX; Dallas, TX; Minneapolis, MN; Nashville, TN; New Orleans, LA; Little Rock, AR; and Salem, OR.
These free-standing assets are located on dominant retail arterials with high traffic counts. Furthermore, these sites are generally either (i) within close proximity to dominant regional malls or (ii) are part of larger, established shopping centers and are thus in areas with high foot traffic. It is important to note that these locations were vacated as a result of Circuit City corporate-level bankruptcy, not individual store underperformance. As a result, many of these locations are proven retail locations that are desirable sites for new tenants. These new tenants and users not only come from the retail sector, but also from a variety of other sectors: alternative uses such as institutional/educational, health care, hotel, and other uses are viable at many of these sites. Additionally, from a development and investment standpoint, these properties also offer investors an opportunity to acquire property at prices dramatically below replacement cost.
As such, there is tremendous opportunity for a buyer to add value through the reletting, repositioning, and/or redevelopment of these assets.
These properties are available individually or in sub-portfolios.
To obtain a full Offering Memorandum on the properties, please sign the Confidentiality Agreement.
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