SRS National Net Lease Group is pleased to present our proposal for The Shoppes At Fountain Plaza, a 22,915 SF neighborhood shopping center located in Bentonville, Arkansas. The strip center is currently occupied by 6 tenants all operating on NNN leases with one vacant space available for lease. At 91% occupancy, the property offers potential upside through lease-up for a future investor. National/credit tenants in the center include Sprint, Taziki’s Mediterranean Cafe, and Ankle & Foot Centers of America. All tenants signed initial term leases ranging from 5-10 years and almost all feature attractive rental increases, steadily growing NOI and hedging against inflation.
The Shoppes at Fountain Plaza is located directly along SE. Walton Boulevard, near the signalized, hard corner intersection of SE Dodson Road with over 24,500 vehicles passing by each day. The site is also under a mile from the direct on/off ramp to Interstate 49 with 60,000 vehicles passing per day. The center was constructed in 2013 and features a modern and attractive stone and brick facade with significant street frontage and excellent visibility. The city of Bentonville is the headquarters of Walmart, which is the world’s largest retailer and employs approximately 18,600 workers in the city alone. The company headquarters includes 20 buildings along Walton Boulevard further promoting crossover traffic to the subject site which is located along the same road. Other nearby strip centers like the Centre at Fountain Plaza include national/credit tenants such as Christian Brothers Automotive, McAlister’s Deli, Jimmy John’s, T-mobile, and more, further promoting crossover shopping in the trade area. In addition, just 2 blocks east of the subject property is a Walmart Grocery Pickup location, a unique, new concept where customers order their groceries online and simply pick them up at a drive thru window. Only 13 of these locations exist nationwide. The 5-mile trade is supported by a population of nearly 85,000 with an affluent average household income of $85,000.