Super-regional power center in Mississippi sells to Houston buyer for $37m

Trademark Property Co. has sold Market Street Flowood, a 263,852-square-foot super-regional power center with office space in the Jackson-area community of Flowood, Miss.

5Rivers CRE, a Houston-based real estate investment firm focused on regional power centers across the Southeastern United States, acquired the asset for $37 million.

Completed in 2010, Market Street Flowood is anchored by Bed Bath & Beyond, Dick’s Sporting Goods, DSW, Michaels and Ulta Beauty. The 96 percent–leased property is also home to a variety of national and regional shop and office tenants, including Amerigo, Lux Salon, Hobby Town, Edible Arrangements, Massage Envy and Great American Cookie.

Market Street Flowood is situated on 26.65 acres at 144 Market St. in Flowood, an affluent suburb northeast of downtown Jackson, which is the largest MSA and state capital of Mississippi. The power center is located at the intersection of Lake Drive and East Metro Parkway, the dominant reta