Atascocita, TX - EOS fitness

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate signed, freestanding, EoS Fitness investment property located in Atascocita, TX (Houston MSA). The tenant, Fitness Alliance, LLC, recently had their grand opening and signed a brand new 15-year lease 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 at the beginning of each option period, growing NOI and hedging against inflation. The lease is NNN leased with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. The property features brand new contruction which includes high quality construction materials, distinct design elements, and state-of-the-art features.

The property is located near the signalized, hard corner intersection of W. Lake Houston Blvd and Will Clayton Pkwy with a combined 49,500 vehicles passing by daily. W. Lake Houston Blvd, is a major retail thoroughfare serving the city of Atascocita. The EoS Fitness is less than 2 miles southeast of Atascocita Commons, a 508,000 square foot power center with major tenants including T.J. Maxx, Kohl’s, Target, HomeGoods, and more. Additionally, the asset is adjacent to Atascocita High School, which has over 3,800 students and provides a direct customer base to the trade area. Furthermore, Eos Fitness serves as the anchor to a brand new retail development with other notable tenants including CVS Pharmacy and Dutch Bros. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Lowe’s Home Improvement, Kroger, Michaels, Dollar General, Walgreens, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 150,700 with an affluent average household income of $138,346.