The Colony, TX - Quality Collision Group

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Quality Collision investment property located in The Colony, Texas. The tenant, Quality Collision, recently signed a brand new 20-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The 0.85 acre parcel next to the subject property is also available for sale ($28 PSF), contact listing agents for more details.

The asset is located at the signalized, hard corner intersection of Memorial Drive and Standridge Drive which combine to average 11,500 vehicles passing by daily. The subject property is located just off of Sam Rayburn Tollway, a major retail and commuter thoroughfare serving the trade area, which sees 131,600 VPD. The subject property is located less than 2 miles from Grandscape, a 400-acre retail and entertainment district that draws over 10 million annual visitors with tenants including Nebraska Furniture Mart, Cosm, Scheels, Portillo’s, Andretti, and many more. In addition, the site is less than 1 mile from Lewisville Towne Crossing, a Target anchored center with other national/credit tenants including PetSmart, Ulta, 24 Hour Fitness, Five Below, McDonald’s, Chili’s, Jersey Mike’s, and others. The asset is located near several multi-family developments including Jefferson Morningstar (373 units), Cortland One Twenty One (328 units), Estancia at Morningstar (300 units), The Atlantic Stonebriar (294 units), and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 224,400 residents and 114,900 employees with an average household income of $177,712.

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Listing ID: a28TP000003DIv3YAG