Eagle Pass TX - Murphy Oil

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN, new construction, Murphy Express investment property located in Eagle Pass, TX. The tenant, Murphy Oil USA, Inc., recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 8% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BB+) and is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The property is currently under construction and will feature a state-of-the-art design using high quality materials.

Murphy Express is strategically positioned at the signalized, hard corner intersection of N Veterans Blvd and 2nd St averaging a combined 33,100 vehicles passing by daily. The property benefits from nearby on/off ramp access to US Highway 277, a major North/South highway connecting Eagle Pass to northern markets. In addition, the site is within 3 miles from the international US/Mexico border. There are 3 border crossings in Eagle Pass connecting over 3.6 million annual travelers to international markets in the US and Mexico. Murphy Express is located directly adjacent to an Academy Sports anchored center and is nearby to Mall De Las Aguillas (350,000 SF). Moreover, the property is surrounded by a variety of national/credit tenants including Walmart Supercenter, Lowe’s Home Improvement, Walgreens, H-E-B, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is within close proximity to numerous apartment complexes including Latigo at Eagle Pass Apartments (188 Units), Residence at Eagle Pass Apartments (180 Units), the Dorel Eagle Pass Apartments (156 Units), and more, providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by a population of over 51,600 residents and 13,400 daytime employees with an average household income of $56,231.

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