Overview

Description

Recently extended ground lease with publicly traded company in tax free state. The offering includes a buildable pad that has been separately parceled (Contact broker for more details). Attractive 26% rent increase in the first option. Excellent visibility at the hard corner of Precinct Line Road and Grapevine Highway with combined traffic counts of 53,248 VPD. Anchor to a daily needs shopping center, that is under new ownership, which has seen significant leasing momentum.

Highlights

• Anchor to a daily needs shopping center that is under new ownership and has seen significant leasing momentum
• Well below market rent of $4.64 / sf
• Kohl’s has been at this location since 1999, and recently executed an early lease extension through January 2032, displaying a long term commitment to this site
• The tenant has four 5-year extension options with scheduled rental increases at the start of each option, including a 26% increase in its next option
• According to Placer.ai, the subject property is in the 72nd percentile in terms of annual visitors to Kohl’s locations within the state of Texas

Documents

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