• 1250 N Germantown Pkwy, Cordova, TN 38016

For Sale

Retail

For Sale

This property is available for sale
3.5
Acres
Negotiable
Sale Price
  • Year Built
    1999
  • Overview

    Colliers International, as exclusive advisor, is pleased to offer Parkway Place, a 152,665 square foot mixed use development, featuring approximately 62,000 square feet of retail fronting Germantown Parkway and a 70,700 square foot single story office building along Cordova Road and Country Village Drive. In addition, the property includes a 14,400 square foot single tenant medical office building, as well as a ground lease for a 5,500 square foot Chili’s restaurant along Germantown Parkway. Parkway Place is home to leading national retailers including Petco, Party City and Bonefish Grill, as well as regional retail users serving this vast consumer area. The office portion of the property is headquarters to a world renowned bio-scientific research firm, Transnetyx, Methodist Healthcare (Primary Care), Baptist Medical Group (Family Physicians Group), The Smith Clinic (Physical Therapy) and publicly traded CenturyLink, an industry leading business technology provider. Current ownership has made extensive strides in leasing as well as major capital improvements since it’s acquisition including: parking lot resealing and striping (2017), exterior painting (2018) and new roofing for the office building (2019).

    National Retail Tenancy - Parkway Place retail tenants include Petco, Party City, Bonefish Grill and Chili’s as well as multiple regional and local tenants.
    State of the Art Medical and Research Space - Headquarters to Transnetyx (Bio-Science), Methodist Healthcare (Primary Care) and Baptist Medical Group (Family Physicians).
    Operating Expense Reimbursement - All tenants, with the exception of Baptist Medical Group, are on a NNN reimbursement schedule insuring minimal landlord operating expense responsibilities by the owner.
    Excellent Location and Visibility - Nearly 900 feet of frontage along Germantown Parkway with over 60,000 VPD, the property also features monument signage along Germantown Parkway and Cordova Road.
    Free and Clear of Existing Debt - The property is being offered free and clear of existing debt, allowing new investors to take advantage of a favorable new debt structure.
    Signalized Access with Multiple Ingress/Egress Points - There is a stoplight at the high traffic corner of Germantown Parkway and Cordova Road, allowing patrons easy north and south bound egress along Germantown Parkway.

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Property Details

INVESTMENT OPPORTUNITY - Parkway Place, 1250 N. Germantown Parkway, Memphis, Tennessee 38016

Colliers International, as exclusive advisor, is pleased to offer Parkway Place, a 152,665 square foot mixed use development, featuring approximately 62,000 square feet of retail fronting Germantown Parkway and a 70,700 square foot single story office building along Cordova Road and Country Village Drive. In addition, the property includes a 14,400 square foot single tenant medical office building, as well as a ground lease for a 5,500 square foot Chili’s restaurant along Germantown Parkway. Parkway Place is home to leading national retailers including Petco, Party City and Bonefish Grill, as well as regional retail users serving this vast consumer area. The office portion of the property is headquarters to a world renowned bio-scientific research firm, Transnetyx, Methodist Healthcare (Primary Care), Baptist Medical Group (Family Physicians Group), The Smith Clinic (Physical Therapy) and publicly traded CenturyLink, an industry leading business technology provider. Current ownership has made extensive strides in leasing as well as major capital improvements since it’s acquisition including: parking lot resealing and striping (2017), exterior painting (2018) and new roofing for the office building (2019).

National Retail Tenancy - Parkway Place retail tenants include Petco, Party City, Bonefish Grill and Chili’s as well as multiple regional and local tenants.
State of the Art Medical and Research Space - Headquarters to Transnetyx (Bio-Science), Methodist Healthcare (Primary Care) and Baptist Medical Group (Family Physicians).
Operating Expense Reimbursement - All tenants, with the exception of Baptist Medical Group, are on a NNN reimbursement schedule insuring minimal landlord operating expense responsibilities by the owner.
Excellent Location and Visibility - Nearly 900 feet of frontage along Germantown Parkway with over 60,000 VPD, the property also features monument signage along Germantown Parkway and Cordova Road.
Free and Clear of Existing Debt - The property is being offered free and clear of existing debt, allowing new investors to take advantage of a favorable new debt structure.
Signalized Access with Multiple Ingress/Egress Points - There is a stoplight at the high traffic corner of Germantown Parkway and Cordova Road, allowing patrons easy north and south bound egress along Germantown Parkway.

  • Property Type
    Retail
  • Year Built
    1999
  • Total Acres
    3.5
  • Number of Floors
    1
  • Zoning
    C-P
  • Last updated
    Nov 15, 2019
  • Property ID
    2118568

Landlord's Sales Representatives

  • Ed Thomas
    Colliers | Memphis
     
  • Andrew Phillips
    Colliers International