Investment Highlights
Executive Summary
WESTVIEW SHOPPING CENTER? The subject property is a 39,161 square foot grocery anchored center in Albany, KY? Westview Shopping Center is anchored by IGA Hometown Grocery which is 60% of the GLA? Priced below replacement cost: $55.41/SF? Average Rent: $5.13? WALT: 4.2 Years IGA GROCERY STORE? Westview Shopping Center has been anchored by IGA Hometown Grocery since the center was built in 1988? 5 Years of remaining term? Rent: $4.53? IGA was founded in 1926 and is the largest independent grocery chain in the world with over 763 locations across 38 states in the US? IGA spans across 41 other countries and has over 6,000 stores worldwide? IGA is the #1 most visited grocery store in a 30 mile radius ALBANY, KY? Albany is a home rule-class city that is the county seat of Clinton County, KY? Located 8 miles north of the Tennessee border, 133 miles northeast of Nashville, and 117 miles northwest of Knoxville? The town is famous for being the home of Lake Cumberland and Dale Hollow Lake, with over 2,000 miles of shoreline for fishing, lake accommodations, and water recreation? Albany?s economy is driven by Agriculture, manufacturing, and tourism.
