February 8, 2017
Conn’s HomePlus sold the 219,914-square-foot Stateline Square to an undisclosed buyer. The price for the retail center at Stateline Road and Interstate 69/55 in Southhaven, MS was also undisclosed, with the county appraising it at $6.3 million.
The center is 100% occupied with Conn’s HomePlus, Burlington Coat Factory, Essex Bargain Hunt, and Home Décor. Conn’s acquired the asset in 2015, when it was a shuttered Kmart store, and built additional space for its own operations.
“Stateline Square represented a great opportunity for the purchaser, already an owner in the trade area, to acquire a well-located asset with below-market rents and a vacant pad site to boot,” said HFF’s Ryan West, who led the team that represented the seller. “The property backs up to the Tennessee state line, so, while located in Mississippi, it also attracts customers from Tennessee and benefits from a diverse demographic trade area.”
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