A 140,438 square foot community shopping center, anchored by Stein Mart, Dollar Tree and Tulane University, located in Biloxi Mississippi. Acquired in 2016, this property was originally completed in 1962 and redeveloped in 2006. Located in the retail epicenter of Biloxi, Edgewater Village boasts excellent accessibility being located directly on Beach Boulevard (Highway 90), one of the major commercial arterials in the neighborhood, connecting Gulfport and Biloxi. The property is adjacent to Edgewater Mall, the only enclosed mall between New Orleans and Mobile, Alabama.
Edgewater Village was acquired in a short-sale from the lender. The low acquisition basis and value-add potential of the property provide opportunity to realize further gain upon disposition. The primary investment strategy is to lease up vacant space at current market rents and develop, sell or leave four outparcels.