Men's Wearhouse Two-Tenant Building

Mobile, AL

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The Opportunity

Summary

  • Price: $1,968,000
  • Lease Type: Fee Simple: NN
  • Tenant Size: 4,500 SF
  • Building Size: 9,000 SF
  • Parcel Size: 1.23 Acres
  • Year Built: 2000
  • Remaining Lease Term: 6.4 Years
  • Options: Two (2), Five (5) Year Options
  • Rental Increases: 10% Each Option Period


Investment Highlights:

• EARLY LEASE EXTENSION – Men’s Wearhouse had just under two years of term remaining and still decided to extend their term five years, which included an increase in base rent. Men's Wearhouse now has six and a half years total remaining on the Lease.

• 25+ YEAR OPERATING HISTORY – Men’s Wearhouse has been a retailer at the Shoppes at Bel Air since 1998, where they started out as an interior retailer in the mall. They then moved to their current location in 2015, signing a ten-year deal and of course extended early, demonstrating their commitment to the successful location.

• NEARBY MAJOR INTERSTATE ACCESS (102,000 VPD) – The two-tenant offering benefits from excellent visibility along Airport Boulevard (CR 56), a major thoroughfare which boasts 28,000 VPD. Additionally, it has tremendous accessibility, as it sits a half mile from Exit 3 off I-65, which is home to over 102,000 VPD.
• BUSTLING RETAIL CORRIDOR – A host of nearby national retailers surround the property along Airport Boulevard (CR 56) and in the surrounding area such as: Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Sam’s Club, Aldi, Walgreens, PNC Bank, Regions Bank, Five Below, PetSmart, T.J. Maxx, Marshalls, Michaels, Office Depot, Firestone, Aspen Dental, Pep Boys, Dollar Tree, The UPS Store, Olive Garden, Outback Steakhouse, Walk-On’s, McDonald’s, Starbuck’s, Chipotle, Wendy’s, Popeye’s, Raising Cane’s, Burger King, Panda Express, Arby’s, and more, further demonstrating the strength of the retail corridor.

• DENSELY POPULATED AREA – The 5-mile area surrounding the property boasts excellent demographics with a population of over 164,000 people and over 69,000 households. Further, Mobile was tagged as the best midsize city in the U.S. for Starting and Growing a Business (Entrepreneur Magazine).

Site Plan

map

Location Map

Tenant

Subsidiary Snapshot

Ownership: TAILORED BRANDS, INC. (SUBSIDIARY)

Headquarters: FREMONT, CA

# of Locations: 630+

Website: WWW.MENSWEARHOUSE.COM

In four decades, Men’s Wearhouse has evolved from one small Houston, Texas store opened by George Zimmer and his college roommates into the national American suit retailer it is today.

For over 50 years, Men’s Wearhouse has been helping the male population find the right clothing, footwear, tuxedos, and suits. Each location offers professional tailors which allows each item to be custom-fit. Their dedicated employees offer world class customer service to each customer.

Men’s Wearhouse offers 24-hour tailoring availability upon request as well as free lifetime pressing on all suits, sports coats, slacks and tuxedos purchased at any of their 600+ stores nationwide.

In 2015, Men’s Wearhouse was names one of the “100 Best Companies to Work for” in America for the 12th time by Fortune Magazine. In 2016, Men’s Wearhouse became a part of the Tailored Brands, Inc. umbrella which also includes the Jos. A. Bank brand, K&G Fashion Store and Moores.

3233 Airport Blvd., Suite 101A Mobile, AL 36606
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Brokerage Team

Marc Mandel

Marc Mandel

Managing Principal
Forged Real Estate
(610) 608-2621, ext. 1
James Yi

James Yi

Director
Forged Real Estate
(215) 460-2603
Greg Zimmerman

Greg Zimmerman

Partner
Forged Real Estate
(610) 608-2621 ext. 3
Marco DiPrinzio

Marco DiPrinzio

Senior Director
Forged Real Estate
(610) 608-2621, ext. 5
Steve Schrenk

Steve Schrenk

Principal
Forged Real Estate
(610) 608-2621, ext. 2
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