Irving, TX - Denny's and Retail

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% occupied, two-tenant, e-commerce resistant, retail strip investment property located in Irving, TX (Dallas / Fort Worth MSA). The offering features a strong food-based tenant lineup of Denny’s and Pending Tenant, who will be signing a brand new 5-year lease with 4 (5-year) option periods to extend, demonstrating their long-term commitment to the site. Both leases feature scheduled rental increases every 5 years (see page 22 for more details), growing NOI and hedging against inflation. Founded in 1953, Denny’s is among the largest diner-style restaurant chains with over 1,700 locations around the world.

The subject property is strategically positioned fronting Lyndon B Johnson Freeway (151,500 VPD), a partial beltway that provides direct access to the Northeast Dallas MSA. The asset is near the signalized, hard corner intersection of Lyndon B Johnson Service Road and MacArthur Boulevard, averaging over 55,000 vehicles passing by daily. The building is ideally situated within Las Colinas, a master-planned urban center with an excellent cultural, professional, and entertainment atmosphere. The building is within walking distance to MacArthur Crossing (200K+ SF), MacArthur Marketplace (646K+ SF), MacArthur Park Center (710K+ SF), and within proximity to several other major shopping centers. The surrounding national/credit tenants consist of Sprouts Farmers Market, T.J. Maxx, Target, Kroger, Kohl’s, and Sam’s Club, among many others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is within proximity to numerous single-family communities and multi-family complexes including Tides at Ranchview (357 units), The Lyndon (504 units), Cortland MacArthur (590 units), and others, providing a direct residential consumer base for the site. The 5-mile trade area is supported by over 235,200 residents and 215,800 daytime employees. Residents within one mile of the subject boast an affluent average household income of $143,573.