Corpus Christi, TX - Urban Air

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, Urban Air investment property located in Corpus Christi, Texas. The tenant, UA Texas LLC, recently signed a brand new 10-year lease, demonstrating their commitment to the site. The lease features a 5% rental increase in 2029, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Urban Air Adventure Park is the Nation’s #1 destination for family fun, featuring a variety of attractions perfect for all ages.

The Urban Air is located near the signalized, hard-corner intersection of S Staples St and McArdle Rd, combining to average over 37,600 vehicles passing by daily. S Staples St is a major retail thoroughfare serving the city of Corpus Christi. The Urban Air is ideally situated in close proximity to Moore Plaza, a 474,000+ square foot shopping center, complete with tenants including Target, H-E-B, Marshalls, Hobby Lobby, Burlington, and more. The asset is also located within walking distance to La Palmera Shopping Mall (10M+ annual visitors), a 935,000+ square foot indoor center, including JCPenney, Macy’s, and more. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Sam’s Club, Best Buy, Ross, Home Depot, Academy, PetSmart, Rooms To Go, Chick-fil-A, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by approximately 211,600 residents and 7,100 employees. Residents within 5 miles of the site boast an affluent average household income of $91,042.