This is a public record generated listing.
Seven Month Lease of Mississippi Retail Store
Listing Information
Attachments
Seven Month Lease of Mississippi Retail Store
Price: $250,000.00
Other Item Info
Item #: mssbke_273035
Created: 01/31/2017
Category: Real Property > Commercial > Commercial Leases
Sale Date: None Set
Created: 01/31/2017
Category: Real Property > Commercial > Commercial Leases
Sale Date: None Set
Seller Info
William J. Little, Jr.
Debtor's Attorney
2505 14th Street, Suite 100
Gulfport,, Mississippi 39501
(228) 867-6050
Debtor's Attorney
2505 14th Street, Suite 100
Gulfport,, Mississippi 39501
(228) 867-6050
Bankruptcy Info
Case #: 6:16-bk-51183
Case Title: Robison Tire Company, Inc.
Court: Mississippi Southern Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Robison Tire Company, Inc.
Court: Mississippi Southern Bankruptcy Court
Chapter: 11
View Case Docket
Description
A Lease Agreement and Option to Purchase (“2016 Lease/Option”) of a Retail Store, located in Forest, Mississippi (“Forest Store”), effective December 1, 2016 for a term of seven months.
The Forest Store consists of 3.66 acres located west of the intersection of Hwy 35 and Hwy 80. The property is approximately 430 feet deep and 420 feet wide, but there are three out parcels on the Hwy 80 frontage, leaving the Forest Store with approximately 160 feet of frontage. A 140 foot by 113 foot building is located upon the property with six service bays along the front of the building.
The legal description of the real property is attached to the 2016 Lease/Option, on the attached PDF.
Additional Details
Generally, the 2016 Lease /Option provides for an advance rental payment for the seven month term of $33,500.00. The option price is reduced to $250,000.00, effectivelygiving Sistrunk credit for $31,000.00 of the rental payment and compensating the Debtor for $2,500.00 to partially defray the Debtor’s fees and expenses in negotiating and obtaining Court approval of the 2016 Lease/Option.