Raymond Road Shopping Center is a 62,000 square foot Kroger anchored shopping center, positioned at the intersection of Raymond Road and McDowell Road Extension with combined traffic counts of approximately 20,000 vehicles per day. Located only three miles west of Interstate 55 and a mile and a half south of Interstate 20, this center served an established submarket in southwest Jackson, MS. The center was also proximate to a large planned community projected to include 700 new homes along with office and commercial space and a new school.
Despite a tenant mix well suited to the surrounding middle-income neighborhoods and population growth on the horizon, the center was extremely outdated at the time of PMAT’s purchase. PMAT completed a light renovation of the center, sourced the disposition of an out parcel to an established tenant, and leased the property to 98% occupancy.