24-hr walmart shadow anchored jameson dr... · 2 1550 jameson drive grenada, ms 38901 price...

GRENADA, MS

24-Hr WalmartShadow Anchored

OFFERING MEMORANDUM

Section 1 PRICING AND FINANCIAL ANALYSIS

Section 2 PROPERTY DESCRIPTION

Section 3 RECENT SALES

Section 4 ON MARKET COMPARABLES

Section 5 DEMOGRAPHIC ANALYSIS

TABLE OF CONTENTS

24-Hr Walmart Shadow AnchoredGRENADA, MS


PRICING AND FINANCIAL ANALYSIS

Price $2,800,000

Down Payment 35% $980,000

Price per Square Foot (GLA) $100.00

Gross Leasable Area (GLA) 28,000

Year Built 2000

Lot Size 2.10 Acres

VITAL DATA

CAP Rate - Current 10.41%

Net Operating Income - Current $291,610

Net Cash Flow After Debt Service - Current $165,836

Total Return - Current 20.84% / $204,185

1

Major Tenants


Tenant Name

All American Check Cashing

CATO

Direct General Insurance

GameStop

Gao Ming Lin

Hibbett Sporting

Nail E

RadioShack

Sally Beauty Supply


Major Employers

CompanyLocal

Employees

Grenada Lake Medical Center 782

Advanced Distributor Pdts LLC 585

Mill Creek Rehabilitation Ctr 280

Luvata Grenada LLC 251

Newsprint Division 225

Safe Security Inc 205

Grenada Elementary School 200

Walmart 182

Grenada Sales Management Inc 175

Paklite Division 145

Granview Healthcare Cte 130

Grenada Stamping Assembly Inc 130

Demographics

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as tothe accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for anyinaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Texas, Inc. © 2015 V0671096Marcus & Millichap. All rights reserved.

1-Mile 3-Miles 5-Miles

2013 Total

Population1,456 10,984 14,360

2018 Total

Population1,410 10,564 14,040

2013 Total

Households537 4,417 5,729

2018 Total

Households525 4,291 5,660

Median HH Income $30,532 $30,278 $32,237

Per Capita Income

(based on Total$18,050 $17,893 $18,698

Average (Mean) HH

Income$48,899 $44,027 $46,497

OFFERING SUMMARY

2

1550 Jameson Drive

Grenada, MS 38901

Price $2,800,000

Down Payment 35% $980,000

Gross Leasable Area (GLA) 28,000

Price/SF $100.00

CAP Rate - Current 10.41%

Lot Size 2.10 Acres

Year Built 2000

FIRST TRUST DEED

Loan Amount $1,820,000

Loan Type Proposed New

Interest Rate 4.85%

Amortization 25 Years

Program Five-Years

Loan to Value 65%


Annualized Operating Data


Income Current

Base Rent

Occupied Space $319,280

Vacant Space at Market Rents (600 SF) $7,200

Gross Potential Rent $326,480

Expense Reimbursements $63,176

Gross Potential Income $389,656

Vacancy/Collection Allowance 5% / $19,483

Effective Gross Income $370,173

Total Expenses $78,564

Net Operating Income $291,610

Debt Service $125,773

Debt Coverage Ratio 2.32

Net Cash Flow After Debt Service 16.92% / $165,836

Principal Reduction $38,348

Total Return 20.84% / $204,185

Location

Financing


Expenses

Real Estate Taxes $22,664

Insurance $7,210

CAM

Utilities $4,367

Repairs & Maintenance $3,217

Maintenance $237

Landscaping $7,035

Miscellaneous $1,041

Waste Disposal $3,160

Pest Control $1,124

Cap Ex Repairs $3,000

TOTAL CAM $23,181

Management Fee (% of EGI) 5% / $18,509

Reserves / Replacements $7,000

TOTAL EXPENSES $78,564

EXPENSES/SF $2.81

Loan information is time sensitive and subject to

change. Contact your local Marcus & Millichap Capital

Corporation representative.

FINANCIAL OVERVIEW

*All leases are NNN.

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Existing Financing

Loan Type Free and Clear


Proposed Financing

First Trust Deed

Loan Amount $1,820,000

Loan Type Proposed New

Interest Rate 4.85%

Amortization 25 Years

Program Five-Years

Loan to Value 65%

Due Date Five-Years

Debt Coverage Ratio 2.32

FINANCING

4



CATO: 20.76%

Lease Out for Signature: 20.76%

Vacant: 2.07%Nail E: 2.07%

Hibbett Sporting: 3.11%Gao Ming Lin: 4.16%

GameStop: 4.16%Direct Auto Insurance: 4.16%

Sally Beauty Supply: 5.19%

RadioShack: 8.65%

l American Check Cashing: 9.34%

Hibbett Sporting: 15.57%


Current Per SF

Real Estate Taxes $22,664 $0.81

Insurance $7,210 $0.26

CAM

Utilities $4,367 $0.16

Repairs & Maintenance $3,217 $0.11

Maintenance $237 $0.01

Landscaping $7,035 $0.25

Miscellaneous $1,041 $0.04

Waste Disposal $3,160 $0.11

Pest Control $1,124 $0.04

Cap Ex Repairs $3,000 $0.11

TOTAL CAM $23,181 $0.83

Management Fee (% of EGI) $18,509 $0.66

Reserves / Replacements $7,000 $0.25

TOTAL EXPENSES $78,564 $2.81

Tenants (% OF GLA)

EXPENSES

5




Current Per SF

Base Rent

Occupied Space $319,280 $11.65

Vacant Space at Market Rents (600 SF) $7,200 $12.00

GROSS POTENTIAL RENT $326,480 $11.66

Expense Reimbursements

Reimbursements $63,176 $2.26

GROSS POTENTIAL INCOME $389,656 $13.92

Vacancy/Collection Allowance (% of GPI) 5% / $19,483 $0.70

EFFECTIVE GROSS INCOME $370,173 $13.22

Total Expenses $78,564 $2.81

NET OPERATING INCOME $291,610 $10.41

Gross Leasable Area (GLA) 28,000 SF

INCOME & EXPENSES

6




TENANT SUMMARY

Tenant GLA % of

GLA

Lease

Commence

Lease

Expire

Annual

Rent

Rent/

SF

Changes

On

Changes

To

Expense

Reimbs.

Optionst Lease

Type

All American Check

Cashing

2,700 9.64% 08/01/2012 07/31/2017 $34,380.00 $12.73 08/01/2015 $35,400.00 $6,081.36 2,5 Year NNN

CATO 6,000 21.43% 03/01/2001 01/31/2017 $61,500.00 $10.25 02/01/2017 $76,500.00 $10,415.16 3,5 Year NNN

Direct Auto

Insurance

1,200 4.29% 11/01/2004 10/31/2016 $18,000.00 $15.00 N/A N/A $2,881.56 1,5 Year NNN

GameStop 1,200 4.29% 02/01/2004 01/31/2016 $14,400.00 $12.00 $2,141.16 N/A NNN

Gao Ming Lin 1,200 4.29% 01/01/2014 12/31/2019 $14,400.00 $12.00 02/01/2017 $16,800.00 $3,600.00 2,5 Year NNN

Hibbett Sporting 4,500 16.07% 03/16/2000 4/30/2017 $63,000.00 $14.00 N/A N/A $7,572.24 N/A NNN

Nail E 600 2.14% 06/01/2011 05/31/2016 $10,500.00 $17.50 6/1/2015N/A $11,100.00 $1,639.08 N/A NNN

RadioShack 2,500 8.93% 02/10/2000 03/31/2017 $26,000.04 $10.40 N/A N/A $4,151.04 2,5 Year NNN

Sally Beauty Supply 1,500 5.36% 06/23/2011 05/31/2016 $17,100.00 $11.40 06/01/2016 $19,500.00 $3,377.86 2,5 Year NNN

Lease Out for

Signature

6,000 21.43% 01/01/2015 12/31/2020 $60,000.00 $10.00 $19,378.80 NNN

Vacant 600 2.14% $7,200.00 $12.00 $1,937.88

TOTAL VACANT 600 2.14% $7,200.00 $1,937.88

TOTAL OCCUPIED 27,400 97.86% $319,280.04 $159,300.00 $61,238.26

TOTAL 28,000 100.00% $326,480.04 $159,300.00 $63,176.14

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For The Year Beginning Year 1

Jan 2014

Year 2

Jan 2015

Year 3

Jan 2016

Year 4

Jan 2017

Year 5

Jan 2018

Year 6

Jan 2019

Year 7

Jan 2020

Year 8

Jan 2021

Year 9

Jan 2022

Year 10

Jan 2023

Tenant(s) Name Direct Auto

Insurance

GameStop

Nail E

Sally Beauty

Supply

All American

Check

Cashing

CATO

Hibbett

Sporting

Hibbett

Sporting

RadioShack

Gao Ming Lin Lease Out

for

Signature

Total Number of Tenants 4 5 1 1

Total Square Feet 4,500 16,600 1,200 6,000

Total Percentage 16.1% 59.3% 4.3% 21.4%

Cumulative Percentage 16.1% 75.4% 79.7% 101.1%

Percentage of SF Expiring Number of Tenants Expiring Cumulative % of SF Expiring

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

110%

To

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qu

are

Fo

ota

ge

0

1

2

3

4

5

Nu

mb

er

of T

en

an

tsJan 2014

0%Jan 2015

0%Jan 2016

16%Jan 2017

59%Jan 2018

0%Jan 2019

4%Jan 2020

21%Jan 2021

0%Jan 2022

0%Jan 2023

0%

LEASE EXPIRATION SUMMARY

Any projections, opinions, assumptions or estimates used here within are for example purposes only and do not represent the current or future performance of the property.

Tenant Name: All American Check Cashing

Lease Commencement: 08/01/2012

Lease Expiration: 07/31/2017

Gross Leasable Area (GLA): 2,700

Original Term: Five-Years

Option Term: Two, Three-Year

Pro Rata Share of Project: 10%

Headquartered: Ridgeland, MS

No. of Locations: Five

All American Check Cashing is a short term lender providing rapid access to short term funds in the form of payday

advances and title loans. Additionally, All American Check Cashing provides check cashing services.

All American Check Cashing is one of the largest independently owned payday loan companies in the state of

Mississippi. With locations throughout Mississippi, Louisiana and Alabama. All American continues to grow at a steady

and sustained pace and is a 100 percent debt free company.

Since 1999, when the doors opened at the first All American Check Cashing store located on the “Square” in Canton,

Mississippi, All American Check Cashing has experienced continuous solid growth. All American’s second store opened

in Eupora, Mississippi on January 1, 2000 and their third location opened in Lexington, Mississippi in December 2000.

In 2002, All American purchased two existing offices, one located in Hazlehurst, Mississippi and the second located in

Belzoni, Mississippi. This expansion pattern has continued over the past 13 years and contributed to their ongoing

success.

Lease Years Annual Rent Monthly Rent Annual Rent/SF

08/01/2012 - 07/31/2013 $32,400.00 $2,700 $12.00

08/01/2013 - 07/31/2014 $33,360.00 $2,780 $12.36

08/01/2014 - 07/31/2015 $34,380.00 $2,865 $12.73

08/01/2015 - 07/31/2016 $35,400.00 $2,950 $13.11

08/01/2016 - 07/31/2017 $36,480.00 $3,040 $13.51

Base Rent

8




TENANT & LEASE SUMMARY

9

CAM Charges $5,400.00, adjustable on annual basis. Tenant will pay

(an estimated) $450.00 per month towards its pro rata

share of CAM, property tax and property insurance for

the first full year.

Real Estate Taxes Tenant pays its pro rata share of taxes. Tenant's

estimated monthly tax payments are $165.00.

Insurance Tenant pays its pro rata share of insurance. Tenant's

estimated monthly insurance payments are $55.00.

Utilities If tenant's water and sewer are separately metered, such

will be excluded from tenant's common expense

contribution. Tenant pays for all utilities required in

connection with the premises.

Maintenance &

Repairs

Tenant will keep and maintain the premises and each

and every part thereof in good order and condition and

to make all repairs thereto and the fixtures and

equipment therein and the appurtenances thereto.

Tenant will carry out a program of regular maintenance

and repair of the premises and at least once every three

years completely redecorate the premises. Tenant

maintains the HVAC and a quarterly maintenance

contract for the such equipment serving the premises.

Service contract being after landlords 12 month

warranty from the lease commencement date and will be

limited to $1,000.00 per annum. Landlord reimburses

tenant for any annual expenses related to HVAC

exceeding said amount. Tenant is responsible for all

interior, non-structural maintenance and repair including

HVAC, plate glass, plumbing, electrical wiring, etc.

Management Tenant reimburses for property management.

Roof & Structure Landlord's obligations. Subject to the provisions of

those paragraphs delaying condemnation, to be

required to make any repairs of any kind of nature to the

demised premises, expect for necessary repairs to slab

floor and structural roof or ceiling thereof and structural

repairs to the building of which the demised premises

forms a part. Landlord is responsible for exterior and

interior structural maintenance and repair, including the

roof, roof skin, and any plumbing or electrical wiring that

is located outside of the premises or that does not

exclusively serve the premises, and the common areas.





Tenant Name: CATO




Original Term: Five-Years, 11-Months

Option Term: Three, Five-Year


Headquartered: Charlotte, NC

No. of Locations: More than 1,000 stores in 32 states

Web Site: www.catofashion.com

Cato Corporation is an American retailer of women's fashions and accessories. The company operates stores that are

located in the southeastern United States in a variety of markets ranging from small towns to metropolitan areas. The

market cap of Cato Corporation was 905.7 million U.S. dollars as of November 11, 2013.

The Cato Corporation (Cato) operates the stores under several names including Cato, Cato Fashions and Cato Plus.

The Fashion Metro and Versona Accessories stand for the fashion series. The Company's stores includes a variety of

clothes such as dressy, career, casual sportswear, dresses, coats, shoes, lingerie, costume jewelry, handbags, men's

wear and lines for kids and newborns.

At Cato, you'll find the latest fashion styles for any occasion - work or play, dressy or casual in junior/misses and plus

sizes. They have jewelry, shoes and accessories, too. Be sure to check them out for on-trend fashions, high quality and

exclusive styles; all at an exceptional value. You can count on Cato for new fashions every week at low prices,

Lease Summary


03/01/2001 - 01/31/2007 $58,500.00 $4,875 $9.75

Base Rent

Option Rent


02/01/2007 - 01/31/2012 $61,500.00 $5,125.00 $10.25

02/01/2012 - 01/31/2017 $61,500.00 $5,125.00 $10.25

02/01/2017 - 01/31/2022 $76,500.00 $6,375.00 $12.75

10





11

CAM Charges Tenant will pay its pro rata share of CAM costs. Tenant

agrees to make a monthly contribution for CAM

charges of ($275.00) for the first year of the lease. If

tenant is required to make an additional payment for

CAM costs, such payment will not exceed five percent

of tenancy's payment of costs for the previous calendar

year.

Real Estate Taxes Tenant will pay its pro rata share of real estate taxes,

estimated to be $1.12 per square foot per annum for

the first full tax year.

Insurance Tenant will pay its pro rata share of landlord's

insurance, estimated to be $0.15 per square foot per

annum for the first annual billing.

Utilities Tenant agrees to pay all charges incurred for utilities

used at the premises.

Maintenance &

Repairs

Tenant will maintain all interior portions of the Premises

to HVAC serving the premises, as well as accessible

interior plumbing, electrical, plate glass, doors and the

interior of the premises in general.

Management Tenant reimburses for property management.

Percentage Rent Three percent of all completed gross sales in excess of

the base sales over the breakpoints set forth in the rent

schedule. In the event that any time after the first five

years of this lease term, lessee remodels the premises

or makes major repairs to the premises ($2,000.00 or

more), then lessee shall be allowed to recover the cost

of such remodeling or repairs by deducting any such

expense form any percentage rent.

Roof & Structure Landlord will maintain, repair and replace the structural

foundations and structural walls and the structural

portions of the roof of the shopping center buildings

and plumbing and electrical systems exterior to those

buildings. As a part of CAM, landlord will maintain and

install any fire protection system, and landlord is

responsible for pest control in the center excluding the

premises.





Co-Tenancy If Wal-Mart Supercenter, Dollar Tree

Store or Radio Shack does not open

for business or thereafter should

vacate its premise or cease

operations on the property adjacent

to the shopping center, tenant may

delay its opening date and rental

commencement date until such

major anchor tenant is open for

business. Tenant may terminate if

the Wal-Mart co-tenancy is not

cured within six months. Tenant may

terminate if the Dollar Tree Store and

RadioShack co-tenancy is not cured

within 12 months. During the period

of major anchor tenant's vacancy,

Tenant's monthly fixed rent and

annual percentage rent will abate to

an amount equal to 1/2 of the

monthly rate. If less than 60 percent

of the GLA of the small shop space

is not occupied, tenant may elect to

(a) not open for business or pay

rents or other charges under the

lease until such co-tenancy failure is

cured. Beginning 12 months after

the date on which rental would have

commenced, and tenant has not

opened for business and co-tenancy

failure has not been cure, either

party may terminate. (b) To open for

business with rents abated by 1/2

until the co-tenancy failure has been

cured. (c) If failure continues for 12

months of the date which the above

occupancy drops below 60 percent

whichever later occurs, tenant may

terminate so long as such 60

percent occupancy has not been

achieved, upon 30 days written

notice.

Tenant Name: Direct General Auto Insurance




Original Term: 12-Years

Option Term: N/A


Headquartered: Nashville, TN

No. of Locations: 400

Web Site: www.directgeneral.com

When it comes to insurance, Direct Auto is all about choices, simplicity and savings. They know that you want the

option to choose the right amount of coverage for your needs, friendly agents who are available when you need them to

help you understand your policy, and affordable payment plans. That's why insurance from Direct Auto is easy to

choose and easy to pay for. Their motto is "Be Direct," and they stand by it when they work with you to find the best

coverage for your needs.

At Direct Auto, they specialize in helping you meet the minimum insurance requirements, and they'll help you get

additional coverage if you want or need it. Whether you're meeting state car insurance requirements, need additional

perks like roadside assistance, are in need of motorcycle insurance, or want term life insurance, Direct Auto has the

expertise to make it happen. At Direct, they welcome all drivers to apply for coverage, even those who may be

considered "high-risk," may not be accepted by other companies, or who are in need of SR22 certifications. Whether

you're looking for cheap insurance for the first time, switching insurance companies to save money, recovering from a

bad driving record, or working to improve your level of existing coverage, Direct Auto welcomes you to apply for

coverage. We can even help you create a customized payment plan that suits your budget. Just work with a

representative to establish your payment date, a payment schedule, and a monthly amount. That's it.

Lease Summary


11/01/2004 - 10/31/2007 $15,600.00 $1,300 $13.00

Base Rent

Option Rent


08/30/2007 - 11/01/2010 $156,000.00 $13,000.00 $130.00

08/04/2010 - 10/31/2013 $16,800.00 $1,400.00 $14.00

11/01/2013 - 10/31/2016 $18,000.00 $1,500.00 $15.00

12





13



CAM/Operating

Charges

Tenant shall pay its pro rata share of complex operating

costs, equal to 4.29 percent. Costs include; all costs incurred

by landlord in operating, maintaining and repairing the

complex including without limitation; the cost of clearing

snow and ice; trash, garbage and other refuse removal; the

cost and expense of gardening and landscaping; landlord's

insurances including bodily injury, public liability, property

damage liability, fire and extended coverage or all risk

insurance covering the complex, rent insurance; water and

sewer charges; repairs to the building and building

improvements and other parts of the complex; restriping

parking areas repair to parking areas painting; maintenance

and repair of traffic and directional signs and equipment;

extermination; electrical, water or other utility charges

serving the common areas; policing and regulating traffic;

structural repairs and roof maintenance, a reserve equal to

eight percent of the estimated cost for resurfacing the

parking area; five percent of all of the basic rent to cover

landlord's administrative supervision, overhead and general

conditions costs, etc.

Real Estate Taxes Tenant shall pay its pro rata share of real estate taxes, equal

to 4.29 percent.

Insurance Included in tenant's share of operating expenses.

Utilities Tenant shall pay all charges for water, electricity, fuel and

other utilities consumed at the demised premises during the

term.

Maintenance &

Repairs

Tenant shall at its sole cost and expense, keep and maintain

all portions of the demised premises in a clean, wholesome

and sanitary condition and in good order and repair,

including, but not limited to all entrances, vestibules,

partitions, windows and window frames, moldings, glass

doors, lighting, plumbing, electrical, HVAC, fixtures and

equipment. Tenant shall also obtain a standard service

agreement from a reputable mechanical systems service

company for the regular service and maintenance of the

HVAC systems in the demised premises.

Management Tenant reimburses management fees.

Roof & Structure Landlord shall make structural repairs to the exterior walls,

common exterior facade, roof and foundation of the building,

maintain the common area and maintain utility lines, drains

and related facilities, serving all tenants in the complex, and

clean the exterior of the building except for those obligations

which are the responsibility of the tenant.

Co-Tenancy N/A



Tenant Name: GameStop




Original Term: 12-Years, Seven-Months

Option Term: N/A


Headquartered: Grapevine, TX

No. of Locations: 6,457

Web Site: www.gamestop.com

GameStop Corporation is an American video game, consumer electronics, and wireless services retailer. The company

is headquartered in Grapevine, Texas and operates 6,457 retail stores throughout the United States, Canada, Australia,

New Zealand and Europe. The company's retail stores primarily operate under the GameStop, EB Games, and

Micromania brands.

GameStop is a global multichannel video game, consumer electronics and wireless services retailer. It is a family of

specialty retail brands that makes the most popular technologies affordable and simple. They are committed to

delivering innovation to consumers anywhere, anytime and anyway they want it. Whether looking for new or pre-owned,

digital or physical video game titles, the latest in video game hardware or accessories or consumer electronics, gaming

and technology enthusiasts are invited to discover and enjoy their favorite products in GameStop's welcoming

environment.

Lease Summary


02/01/2004 - 01/31/2009 $18,000.00 $1,500 $15.00

Base Rent

Option Rent


02/01/2009 - 01/31/2011 $14,400.00 $1,200.00 $12.00

02/01/2011 - 01/31/2013 $14,400.00 $1,200.00 $12.00

02/01/2013 - 01/31/2018 $14,400.00 $1,200.00 $12.00

14





15

CAM Charges Lndlord estimates tenant's first year share of CAM will be

$1.55 per square foot excluding taxes. Tenant shall pay

tenant's pro rata share of all costs incurred by landlord

related to common area of the center.

Real Estate Taxes Landlord estimates tenant's first year share of real estate

taxes will be $1.61 per square foot. Tenant shall pay tenant's

pro rata share of taxes.

Insurance Lndlord estimates tenant's first year pro rata share of

insurance to be $0.22 per square foot. Tenant shall pay

tenant's pro rata share of taxes.

Utilities Tenant agrees to pay for all public utility services rendered or

furnished to leased premises during the term. If the property

is not metered then tenant agrees to pay tenant's pro rata

share of utilities increased on all annual basis.

Maintenance &

Repairs

Tenant shall keep leased premises in good, clean and

habitable condition, normal wear and tear excepted, and

shall at sole cost keep premises free of insects, rodents,

vermin and other pests and make all needed repairs and

replacements including broken glass, HVAC and doors, etc.

Management Tenant pays management plus administrative fees equal to

tenants pro rata share of CAM costs.

Operations Common area maintenance costs include; operating,

repairing, replacing, lighting, cleaning, maintenance, painting,

securing, managing the center and management fee. Tenant

shall pay an admin fee equal to 10 percent of tenant's pro

rata share of CAM costs.

Co-Tenancy In the event that less than 70 percent of the gross leasable

area of the inline tenant space is occupied and open for

business Tenant shall pay in lieu of minimum rent an amount

equal to 75 percent of the minimum rent until such excess

vacany is cured. If excess vacancy continues for six months

or more, then tenant shall have the right to terminate upon 30

days written notice.

Roof & Structure Landlord shall maintain at sole cost, in good condition and

repair the structural integrity of the leased premises including

the exterior of the buildings, the roof, structural walls and

foundations, roof and down spouts, etc.





Tenant Name: Gao Ming Lin





Option Term: Two Five-Year


Headquartered: Grenada, MS

No. of Locations: One

Web Site: N/A

Asian Restaurant located in Grenada, Mississippi. Both sit down and take out dining is available at this restaurant.

Lease Summary


02/01/2014 - 01/31/2017 $14,400.00 $1,200 $12.00

02/01/2017 - 01/31/2019 $16,800.00 $1,400 $14.00

Base Rent

16





Gao Ming Lin

Market RentMarket Rent Market Rent

Market Rent Market RentMarket Rent

17



CAM Charges Tenant pays its pro rata share of operating expenses.

Initial CAM, property tax and insurance: $300.00 per

month reconciled annually.

Real Estate Taxes Tenant pays its pro rata share of taxes.

Insurance Tenant pays its pro rata share of insurance.

Utilities Tenant pays the cost of all utilities furnished to the

premises, or the center and used by tenant.

Maintenance &

Repairs

Tenant will keep the premises and fixtures, plumbing,

HVAC serving the premises, regular pest control and

regular HVAC maintenance contracts, etc; repair and

replacement of any broken windows, plate glass, doors of

storefronts, etc.

Management Tenant pays management fee.

Roof & Structure Landlord will keep and maintain the roof and the structural

portion of the center, exclusive of doors and windows.

Operations Operating expenses include: utilities, management fees,

maintenance, snow and ice removal, trash removal,

landscaping and repairs, etc.

Co-Tenancy N/A

Termination Option: Tenant shall have a one time early lease termination option

to be exercised no later than October 1, 2016.



Gao Ming Lin

Tenant Name: Hibbett Sporting Goods





Option Term: Two, Five-Year


Headquartered: Birmingham, AL

No. of Locations: 832

Web Site: www.hibbett.com

Hibbett Sports, Incorporated is a publicly traded holding company for Hibbett Sporting Goods, a full line sporting goods

retailer. Headquartered in Birmingham, Alabama, the company has over 832 locations in approximately 28 states.

Hibbett Sports operates sporting goods stores in small to mid-sized markets in the southeast, southwest, and lower

midwest regions of the United States. Hibbett Sporting Goods offer a range of athletic equipment, footwear and

apparel.

In May 2012, Hibbett Sports reported total assets of $335.83 million.

Hibbett Sports has a simple philosophy: it's all about the customer. Though the company has grown to over 800 stores,

they have never lost sight of their roots as a neighborhood sporting goods store.

They start at the local store level, carefully choosing a selection of sporting goods designed to meet the needs of the

cities and towns where they are located. They strive to make each story about the customer and their needs, offering

the highest quality name brands and very competitive prices. They separate themselves from the competition with their

excellent customer service, training every associate to equip them with exceptional product knowledge that helps them

serve you better.

Lease Summary


03/16/2000 - 02/31/2005 $54,900.00 $4,575 $12.20

Base Rent

Option Rent


03/01/2005 - 02/31/2010 $58,500.00 $4,875.00 $13.00

03/01/2010 - 02/31/2015 $63,000.00 $5,250.00 $14.00

18





19

CAM Charges Tenant shall pay a CAM fee in monthly installments together

with the minimum rent. The maximum annual CAM fee shall not

be increased by more than four percent over the previous year.

Tenant's CAM fee for the period from the rent commencement

date through the first full lease year shall not exceed $2,475.00.

Real Estate Taxes Tenant shall pay its percentage share of real estate taxes. Taxes

for the first full lease year are estimated at $5,616.00.

Insurance Included in tenant's operating expenses.

Utilities Tenant shall pay all utility charges and deposits required to

establish accounts for gas, heat, light, water, sewer, electricity,

garbage and other utility use services supplied to the lease

premises during the term of the lease.

Maintenance &

Repairs

Tenant shall maintain at its expense the interior of the leased

premises, including the doors and windows in good condition

and repair. Tenant's obligation to repair, replace and otherwise

maintain the HVAC system (after the warranty period of five

years) shall be limited to the purchase of a standard preventive

maintenance contract from a vendor reasonably acceptable to

landlord and the aggregate additional repair and maintenance

costs of not more than $.20 per square foot of floor surface

within the lease premises for each lease year.

Management Tenant reimburses for management fee.

Percentage Rent Three percent of gross sales in excess of the sales base for

each lease year. Sales base shall be an amount equal to (i) the

minimum rent payable for such lease year (plus the amount for

any ""free rent" to which the tenant was entitled for such lease

year as if it were in fact paid) divided by (ii) three percent."

Co-Tenancy In event that Dollar Tree and It's Fashion are not open and

operating as of the rent commencement date, tenant shall pay,

in lieu of minimum rent, percentage rent, and additional rent,

two percent of gross sales until the co-tenant requirement has

been satisfied. If such shall remain unsatisfied for a period of six

months or more, following the rent commencement date, tenant

shall be entitled to continue paying two percent of gross sales

or to terminate the lease upon 30 days written notice to the

landlord. If tenant terminates, landlord shall reimburse tenant for

all costs related to opening the store in the leased premises. L

andlord guarantees that at all times during the term, Wal-Mart

shall be open and operating in the center during the days and

hours designated as regular center hours. In event that the on-

going co-tenant requirement is not met for a period of seven

consecutive dates at any given time, tenant shall have the right

to terminate the lease upon 30 days written notice to landlord.

Roof & Structure Landlord shall maintain at its expense the structure, roof and

exterior of the leased premises and shall warrant the mechanical

systems and the HVAC system, for a period of five years from

the commencement date.





Tenant Name: Nail E



Gross Leasable Area (GLA): 600

Original Term: Two-Years

Option Term: N/A


Headquartered: Grenada, MS

No. of Locations: One

Web Site: N/A

Nail Salon.

Lease Summary


06/01/2011 - 05/31/2012 $9,000.00 $750 $15.00

06/01/2012 - 05/31/2013 $9,300.00 $775 $15.50

Base Rent

Option Rent


6/1/2013-5/31/2014 $9,900.00 $825.00 $16.50

6/1/2014-5/31/2015 $10,500.00 $875.00 $17.50

6/1/2015-5/31/2016 $11,100.00 $925.00 $18.50

20




Nail E


CAM Charges CAM: $90.00 per month for the first year $1.80 per square

foot. Tenant pays tenant's share of common expense

contribution. Common expense contribution includes

landlord's insurance, cleaning, maintain, repairing,

replacing, and painting of the entire center and all

equipment serving the common areas; utilities for the

common areas; admin fee; reserves in an amount not to

exceed five percent of the total common expenses for

deferred repair and maintenance, etc.

Real Estate Taxes Tenant shall pay tenant's share to landlord as tax

contribution.

Insurance Included in common expense contribution.

Utilities Water and sewer shall be sub-metered. If tenant uses more

water or sewer than other premises in the center landlord

may charge tenant for the excess.

Tenant shall be responsible for paying for all utilities

required in connection with the demised premises.

Maintenance &

Repairs

Tenant shall keep and maintain the demised premises and

the fixtures and equipment therein and the appurtenances

thereto, including the HVAC, windows and window frames,

doors and door frames, floor coverings, interior walls and

ceilings, etc. Tenant shall maintain a maintenance contract

for the HVAC system.

Management Tenant pays management and administrative fees.

Co-Tenancy N/A

Roof & Structure Landlord agrees to maintain and operate the common

areas.

Landlord's obligations to be required to make any repairs of

any kind of nature to the demised premises, except for

necessary repairs to slab floor and structural roof or ceiling

thereof and structural repairs to the building of which the

demised premises for a part.

21




Nail E


Tenant Name: RadioShack







Headquartered: Fort Worth, TX

No. of Locations: 7,150 +

Web Site: www.RadioShack.com

RadioShack is a leading national retailer of innovative technology products and services, as well as products related to

personal and home technology and power supply needs. RadioShack offers consumers products and services from

leading national brands, exclusive private brands and major wireless carriers, all within a comfortable and convenient

shopping environment.

Today’s RadioShack is dedicated to reinvigorating stores, revamping product assortment and repositioning the brand.

With a refined product mix, enhanced in-store experience and expert associates, the new RadioShack is the

neighborhood technology resource, equipping consumers with the right product and know-how based on their needs.

RadioShack continues to make significant strides in all five areas of our turnaround plan, most visibly through our new

brand, updated stores and new product assortment.

Lease Summary


02/10/2000 - 03/31/2007 $32,500.00 $2,708 $13.00

Base Rent

Option Rent


04/01/2007 - 03/31/2010 $32,499.96 $2,708.33 $13.00

04/01/2010 - 03/31/2012 $35,000.00 $2,916.67 $14.00

04/01/2012 - 03/31/2017 $26,000.00 $2,166.67 $10.40

04/01/2017 - 03/31/2022 $37,500.00 $3,125.00 $15.00

04/01/2022 - 03/31/2027 $40,000.00 $3,333.33 $16.00

22





23


CAM Charges Tenant pays proportionate share of the common area

expenses. CAM shall not increase by more than five

percent over the previous fiscal year. First fiscal year

insurance charges estimated to be $0.55 per square

foot.

Real Estate Taxes Tenant pays tenant's share of real estate taxes. First

fiscal year insurance charges estimated to be $1.00 per

square foot.

Insurance Tenant pays tenant's proportionate share of insurance.

First fiscal year insurance charges estimated to be

$0.20 per square foot.

Utilities Tenant shall pay the actual charges for electricity, gas,

water, sewer and telephone services used in the

demised premises.

Maintenance &

Repairs

Tenant shall maintain all other parts of the demised

premises which are not required to be maintained by

landlord including the windows and doors of the

demised premises and all glass therein; the HVAC

equipment and plumbing which exclusive service the

demised premises; and tenant's improvements, trade

fixtures and equipment.

Management Tenant pays management.

Operations Common area expenses shall include of repairing,

cleaning, maintaining, protecting, removing snow, ice,

refuse and debris, lighting, insuring, and otherwise

operating the common areas. Common area expenses

may include: wages and salaries; security guards;

landscaping; utilities; etc.

Co-Tenancy If Wal-Mart discontinues operations and a similar tenant

does not replace it and open for business within a

period of six months tenant shall have the option to

terminate this lease upon 90 days prior notice to

landlord.

Roof & Structure Roof repair and replacement is included in CAM.




Tenant Name: Sally Beauty Supply







Sally Beauty Holdings, Inc.

Headquartered:

Denton, Texas

Sally Beauty Holdings, Inc.

No. of Locations:

4,669+

Web Site: www.sallybeauty.com and

www.sallybeautyholdings.com

Sally Beauty Holdings, Incorporated is a global distributor and retailer of professional beauty products with revenues of

$3.6 billion annually. Through the Sally Beauty Supply and Beauty Systems Group business, the company sells and

distributes through over 4,669 stores, including approximately 182 franchised units, throughout the United States and

Puerto Rico, the United Kingdom, Belgium, Chile, France, Canada, Mexico, Ireland, Netherlands, Spain, and Germany.

Sally Beauty Supply, Sally Beauty USA, Sally Beauty Canada, Sally UK, Sally Beauty Mexico Pro Duo Sinelco InterSalon

Beauty Systems Group, CosmoProf Armstrong McCall Salon Success (UK). Sally Beauty Supply is the world's largest

distributor and retailer of professional beauty products based on a store count of more than 3,300 stores in 11

countries.

Sally Beauty Supply stores service both retail consumers and salon professionals by offering more than 9,000 products

for hair, skin and nails through professional lines such as Clairol, L'Oreal, Wella and Conair, as well as an extensive

selection of proprietary merchandise.

Lease Summary


06/23/2011 - 05/31/2016 $17,100.00 $1,425 $11.40

Base Rent

Option Rent


06/01/2016 - 05/31/2021 $19,500.00 $1,625.00 $13.00

06/01/2021 - 05/31/2026 $21,750.00 $1,812.50 $14.50

24





25

CAM Charges CAM, taxes and Insurance: first year estimated; $1.80

per square foot. Lessee agrees to reimburse landlord

for lessee's proportionate share of CAM expenses. After

the first lease year, lessee's proportionate share of CAM

expenses shall not exceed the lesser of 10 percent of

the minimum annual rent or 105 percent of the CAM

expenses for the preceding lease year."

Real Estate Taxes Lessee shall reimburse landlord its proportionate share

of real property taxes.

Insurance Tenant pays its pro rata share of Insurance.

Utilities Lessee shall pay all charges for gas, electricity, water

and other utilities consumed on or furnished to the

premises.

Maintenance &

Repairs

Lessee, at its sole cost and expense, shall maintain the

exposed and interior plumbing, window glass, plate

glass and doors; HVAC systems; and the interior

surfaces of the premises.

Management Tenant pays management fee.

Operations CAM expenses include all expenses actually incurred

by landlord to maintain the common area. Such

maintenance shall include: keep the common areas

properly policed, drained, free of snow, ice, water,

rubbish and other obstructions, and in a neat clean

orderly and sanitary condition; keep the common areas

well lit, during the appropriate periods; insurance; etc.

Co-Tenancy If at anytime after lessee has occupied the premises,

Wal-Mart Supercenter discontinues its operations and

a similar lessee does not replace it within a period of

180 days lessee may, at its election, terminate this lease

by giving landlord 90 days written notice at which time

this lease shall terminate or lessee may operate on 50

percent base rent basis.

Roof & Structure Landlord shall keep and maintain the common area.

Landlord shall at its sole cost and expense make all

structural repairs to the premises, including the

foundation, bearing walls and roof. Landlord will

maintain the underground and otherwise concealed

plumbing and the exterior surface of outside walls,

excluding window, plate and door glass.






PROPERTY DESCRIPTION

Marcus & Millichap is pleased to present a 28,000-square foot, multi-tenant shopping center, located in Grenada, Mississippi. This property boasts strong historical occupancy over the past 10 years. The center consists of national credit tenants including CATO, GameStop, Hibbett Sporting Goods, RadioShack, Sally Beauty Supply and Direct Auto Insurance.

This subject property at 1550 Jameson Drive is in a strong trade area, just off Highway 8 and the interchange to Interstate 55 and adjacent to a 24-Hour Walmart Supercenter. This is the main trade area for the community which includes national retailers such as McDonalds, Burger King, Advanced Auto, Subway, Hampton Inn & Suites, Wendys, Holiday Inn, Days Inn, Enterprise, Dominos, Pizza Hut and Church's Chicken.

Grenada is located halfway between Memphis, Tennessee and Jackson, Mississippi. It is a place with a warm small town atmosphere nestled in a serene woody landscape. The population is about 14,040 within a five mile radius. There are a number of historical sites in Grenada, including the First Baptist Church, the Historic Downtown Square, and numerous family homes from the 1800s.

Grenada Plaza is an easy property to own and operate.

Investment Highlights

■ 24-Hour Walmart Shadow Anchored Shopping Center

■ National Credit Tenants

■ NNN Leases

■ Traffic Counts - 19,000 Vehicles per Day

■ Low Cost per Square Foot, $100. Below Replacement Value

■ Excellent Visibility From Highway 8

27




INVESTMENT OVERVIEW

Construction

Features

■ Brick and Block Construction

■ Drivet / Stucco Exterior

■ Easy to Maintain

■ Great Tenant Mix

■ Strong Historical Occupancy

■ National Tenants

28




PROPERTY FEATURES

29




PROPERTY PHOTOS

30




AREA MAPS

Local Map Regional Map

31




SITE PLAN

32




AERIAL PHOTO

33




AERIAL PHOTO


RECENT SALES

1)

2)

3)

24-Hr Walmart Shadow Anchored

Clinton Shopette (Target Shadow Center)

Walmart Court Shopping Center

Walmart Shadow Center

35

RECENT SALES



RECENT SALES MAP

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Subject ClintonShopette(TargetShadowCenter)

WalmartCourt

ShoppingCenter

WalmartShadowCenter

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Subject ClintonShopette(TargetShadowCenter)

WalmartCourt

ShoppingCenter

WalmartShadowCenter

Average Price per Square Foot

36

RECENT SALES


Average Cap Rate


CAP RATE AND PRICE PER SF

1

2


1550 Jameson Drive

Grenada, MS 38901

Clinton Shopette (Target Shadow Center)

6787 South Clinton Street

Greenwood Village, CO 80112

Walmart Court Shopping Center

100 Walmart Court

Odessa, TX 79763

Comments

Shadow anchored by Target. Fully occupied. Minimal landlord responsibilities. All triple-net leases. Recent renewals; first

lease expiration is February 2017.

Comments

100 percent leased to national tenants. Original tenant roster since construction in 2001 and tenants have renewed multiple

times. Below market rents with ease of management tenant reimbursement of majority of NNN expenses.

Close of Escrow: 05/01/2014 Major Tenants

Year Built: 1985 Payless Shoes

Gross Leasable Area (GLA): 11,442 SF Mathasium

Sale Price: $3,050,000 Great Clips

Percent Down: 88% Las Brisas

CAP Rate: 7.96%

Price/SF (GLA): $267.00

Lot Size: 0.98 Acres

Subject Property

Year Built: 2000 Major Tenants

Gross Leasable Area (GLA): 28,000 SF All American Check

Offering Price: $2,800,000 CATO

Percent Down 35% Direct General Insurance

CAP Rate: 10.41% GameStop

Price/SF (GLA): $100.00 Gao Ming Lin

Lot Size: 2.10 Acres Hibbett Sporting, Nail E

RadioShack, Sally Beauty

37

RECENT SALES



Year Built: 2001 CATO

Gross Leasable Area (GLA): 8,500 SF Check n' Go

Sale Price: $1,386,756 RadioShack

Percent Down: 40%

CAP Rate: 8.16%




RECENT SALES

3 Walmart Shadow Center

1100 Dutch Fork Road

Irmo, SC 29063

Comments

Walmart shadow center located in Irmo (Columbia), South Carolina. Average daily traffic count of 20,800 on US Highway 76.

All NN leases.

38

RECENT SALES



Year Built: 2009 Dollar Tree

Gross Leasable Area (GLA): 48,000 SF Shoe Show

Sale Price: $8,250,000 GNA, Pizza Hut

Percent Down: 100% Verizon, Little Caesar's

CAP Rate: 8.64% Japanese Buffett

Price/SF (GLA): $172.00 Golden Eagle Gold Buyer

Lot Size: 9.4 Acres DK Nails...


RECENT SALES


ON MARKET COMPARABLES

1)

2)

3)


Walmart Shadow-Anchored Center

Wal-Mart Shadow-Anchored Retail

Shoppes at Indian Trial (Wal-Mart

Shadow)

40




ON MARKET COMPARABLES MAP

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Subject WalmartShadow-Anchored

Center

Wal-MartShadow-Anchored

Retail

Shoppesat

IndianTrial

(Wal-MartShadow)

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Subject WalmartShadow-Anchored

Center

Wal-MartShadow-Anchored

Retail

Shoppesat

IndianTrial

(Wal-MartShadow)

Average Price per Square Foot

41



Average Cap Rate


CAP RATE AND PRICE PER SF

2

1


1550 Jameson Drive

Grenada, MS 38901

Walmart Shadow-Anchored Center

1035 Hasko Road

Palmetto, FL 34221

Wal-Mart Shadow-Anchored Retail

8653 North Beach Street

Fort Worth, TX 76244

Comments

Walmart shadow-anchored center. Non-credit tenant roster.

Comments

Fully occupied, non-credit tenant roster. All triple-net leases. Wal-Mart shadow anchored retail center. Traffic counts exceed

27,400 vehicles per day. Excellent demographics.

Status: On Market Major Tenants

Year Built: 2006 Akhtar / Convenience Store

Gross Leasable Area (GLA): 17,322 SF Check 'n Go

List Price: $4,999,000 Day Spa

Percent Down: 100% Golden China Restaurant

CAP Rate: 7.25% Goodwill

Price/SF (GLA): $289.00 GS Mobile

Lot Size: 2.215 Acres Just Cut It, Little Caesar's


Year Built: 2007 Best Dry Cleaners

Gross Leasable Area (GLA): 9,690 SF Chatterbox Bar & Grill

List Price: $1,200,000 Cicely's Beauty Supply

Percent Down: 30% Hot Spins 777

CAP Rate: 7.00% Phil's Barber Shop



Subject Property

42



Year Built: 2000 Major Tenants

Gross Leasable Area (GLA): 28,000 SF All American Check

Offering Price: $2,800,000 CATO

Percent Down 35% Direct General Insurance

CAP Rate: 10.41% GameStop

Price/SF (GLA): $100.00 Gao Ming Lin

Lot Size: 2.10 Acres Hibbett Sporting, Nail E

RadioShack, Sally Beauty



3 Shoppes at Indian Trial (Wal-Mart Shadow)

14035 Independence Boulevard

Indian Trail, NC 28079

Comments

96 percent leased shopping center. Shadow-anchored by Walmart Supercenter. NNN leases plus administration fee. Strong

cash-flow.

43


Year Built: 2006 CATO

Gross Leasable Area (GLA): 33,586 SF Panera Bread Co

List Price: $6,000,000 Sally Beauty

Percent Down: 100% Sleepy's

CAP Rate: 7.92% The UPS Store

Price/SF (GLA): $178.65 Verizon Wireless







DEMOGRAPHIC ANALYSIS

1 Mile 3 Miles 5 Miles

2000 Population 1,656 12,907 16,167

2010 Population 1,488 11,155 14,611

2013 Population 1,456 10,984 14,360

2018 Population 1,410 10,564 14,040

2000 Households 582 4,949 6,136

2010 Households 549 4,495 5,837

2013 Households 537 4,417 5,729

2018 Households 525 4,291 5,660

2013 Average Household Size 2.57 2.41 2.45

2013 Daytime Population 681 7,436 8,698

2000 Median Housing Value $56,823 $66,959 $68,577

2000 Owner Occupied Housing Units 49.48% 54.12% 57.76%

2000 Renter Occupied Housing Units 42.92% 36.78% 33.04%

2000 Vacant 9.86% 8.67% 9.11%



2013 Vacant 13.18% 15.09% 14.65%



2018 Vacant 13.64% 15.87% 15.35%

$ 0 - $14,999 26.0% 28.1% 26.0%

$ 15,000 - $24,999 12.9% 15.2% 14.7%

$ 25,000 - $34,999 17.3% 12.4% 12.3%

$ 35,000 - $49,999 13.5% 13.1% 13.9%

$ 50,000 - $74,999 14.6% 15.0% 15.8%

$ 75,000 - $99,999 7.8% 8.4% 8.5%

$100,000 - $124,999 3.0% 3.7% 3.8%

$125,000 - $149,999 0.2% 1.6% 1.8%

$150,000 - $199,999 2.5% 1.6% 2.0%

$200,000 - $249,999 0.9% 0.5% 0.6%

$250,000 + 1.4% 0.6% 0.7%

2013 Median Household Income $30,532 $30,278 $32,237

2013 Per Capita Income $18,050 $17,893 $18,698

2013 Average Household Income $48,899 $44,027 $46,497

Demographic data © 2012 by Experian.

45




DEMOGRAPHIC REPORT

Geography: 5 miles

Population

In 2013, the population in your selected geography was 14,360. The population has changed by -11.17% since 2000. It is estimated

that the population in your area will be 14,040 five years from now, which represents a change of -2.23% from the current year. The

current population is 46.7% male and 53.2% female. The median age of the population in your area is 38.6, compare this to the U.S.

average which is 37. The population density in your area is 132.53 people per square mile.

Households

There are currently 5,729 households in your selected geography. The number of households has changed by -6.62% since 2000. It

is estimated that the number of households in your area will be 5,660 five years from now, which represents a change of -1.20%

from the current year. The average household size in your area is 2.45 persons.

Income

In 2013, the median household income for your selected geography is $32,237, compare this to the U.S. average which is currently

$53,535. The median household income for your area has changed by 19.68% since 2000. It is estimated that the median household

income in your area will be $35,241 five years from now, which represents a change of 9.31% from the current year.

The current year per capita income in your area is $18,698, compare this to the U.S. average, which is $28,888. The current year

average household income in your area is $46,497, compare this to the U.S. average which is $75,373.

Race & Ethnicity

The current year racial makeup of your selected area is as follows: 49.10% White, 49.00% African American, 0.18% Native American

and 0.45% Asian/Pacific Islander. Compare these to U.S. averages which are: 72.20% White, 12.65% African American, 0.96%

Native American and 5.01% Asian/Pacific Islander.

People of Hispanic origin are counted independently of race. People of Hispanic origin make up 1.33% of the current year

population in your selected area. Compare this to the U.S. average of 16.55%.

Housing

The median housing value in your area was $68,577 in 2000, compare this to the U.S. average of $110,781 for the same year. In

2000, there were 3,904 owner occupied housing units in your area and there were 2,233 renter occupied housing units in your area.

The median rent at the time was $291.

Employment

In 2013, there are 8,698 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed

that 50.2% of employees are employed in white-collar occupations in this geography, and 49.7% are employed in blue-collar

occupations. In 2013, unemployment in this area is 5.48%. In 2000, the median time traveled to work was 13.8 minutes.


46




SUMMARY REPORT

Number of people living in a given area per square mile.


47




POPULATION DENSITY

The number of people employed in a given area per square mile.


48




EMPLOYMENT DENSITY

Average income of all the people 15 years and older occupying a

single housing unit.


49




AVERAGE HOUSEHOLD INCOME

24-hr walmart shadow anchored jameson dr... · 2 1550 jameson drive grenada, ms 38901 price...

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