Garland, TX - Walnut Park Shopping Center

Description:

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 13-tenant shopping center located in Garland, Texas. The asset is 100% occupied with almost half of the tenants having a operating history of over 11 years, demonstrating the historical stability and attractiveness of the asset. Ten of the tenant’s leases contain annual rental increases, providing a hedge against inflation while steadily growing NOI. Furthermore, the center’s diverse tenant lineup of restaurant, entertainment, and service users making the center internet-resistant while promoting crossover exposure through complementary uses.

The shopping center is located at the signalized, hard corner intersection of West Walnut Street and North Plano Road which combine to average over 49,700 vehicles passing by daily. Both West Walnut Street and North Plano Road are major retail and commuter thoroughfares serving the trade area. The site benefits from significant frontage along West Walnut Street as well as multiple points of ingress/egress. The asset is located in close proximity to several multi-family complexes including The Gardens on Walnut (160 units), the Pepperwood Apartments (218 units), and Northgate Village (168 units). The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart, Target, Lowe’s, Fiesta, Chick-fil-A, Petco, Whataburger, CVS, AutoZone, Dollar General, and more, further increasing consumer traffic to the site. The subject property is located approximately 2 miles from Dallas College - Richland Campus which has a student population of over 20,000. The 5-mile trade area is supported by a population of over 405,900 residents and 224,600 employees with an average household income of $109,731.

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Listing ID: a28TP000001nzo9YAA