PRESS RELEASE FROM MIDWEST RETAIL PROPERTIES

Midwest Retail Properties Acquires Three Walmart-Anchored Retail Centers

Posted Oct 21, 2020

Midwest Retail Properties (“MRP”) announces the acquisition of a portfolio of three Walmart-Anchored Shopping Centers – two properties are in Texas and one property is in Alabama. These properties will add a total of 43,400 SF to MRP’s current portfolio. This acquisition is MRP’s third shadow center purchase in Alabama and third purchase in Texas.

Jacksonville, TX – Jacksonville Plaza is a Walmart-anchored shopping center in Jacksonville, TX.  The shopping center is 50% leased and contains national retailers such as Cato & GameStop. Nearby retailers include: Wingstop, Subway, Chili's, and Jersey Mike's Subs. The property is located adjacent to a high-performing Walmart Supercenter.

Jasper, TX – Jasper Plaza is a 13,520 SF Walmart-anchored shopping center in Jasper, TX. The shopping center is 61% leased to national and regional tenants. The property is located off Highway 190 next to Lowe's Home Improvement store directly in front of a Walmart Supercenter. Jasper, TX is located about 2 hours northeast of Houston, TX near Sam Rayburn Reservoir.

Boaz, AL – Corona Center is a 13,500 SF Walmart-anchored shopping center in Boaz, AL. The shopping center is 100% leased. The entire trade area has a high occupancy. The property is located on U.S. Highway 431 in the main retail corridor. The center sits directly in front of a high-performing Walmart Supercenter. Nearby retailers include: Tractor Supply and Harbor Freight.

Midwest Retail Properties is a St. Louis-based private equity real estate firm that owns and manages Walmart-Anchored Shadow Centers in secondary and tertiary locations nationwide. MRP’s current portfolio is comprised of over 1 million square feet of retail space across 15 states. Additional information can be found at www.mrpstl.com.