El Paso, TX - Loomis

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, Loomis investment property located in El Paso, Texas. The tenant, Loomis, has 6 years of initial term remaining with 3 (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 fair market value increases at the beginning of each option period, 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.

The Loomis is located near the intersection of Railroad Dr and State Highway 375 with a combined 58,400 vehicles per day. Railroad Drive is a major retail thoroughfare serving the city of El Paso. The asset is located less than 1.5 miles from El Paso Shopping Center, which features national/credit tenants such as Burlington, Ross, Five Below, Daiso, dd’s Discounts, and Popeyes. The asset is located near Fort Bliss, the second largest military installation (1.12 million acres), which houses over 90,000 members of the military and their families, while contributing over $22.9 billion to the area. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Sam’s Club, Crunch Fitness, McDonald’s, Dunkin’, Panda Express, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 124,700 residents and 62,500 employees with an average household income of $71,253.