Investment Highlights

100% LEASED TWO-TENANT RETAIL-ASSET WITH SCHEDULED RENTAL INCREASES
» 100% leased two-tenant retail asset featuring iconic corporate tenants
» Two-tenant asset allows for investment diversification
» Scheduled rental increases for all leases, providing a hedge against inflation
» High-quality 2023 construction
» Party City designs, manufactures, and distributes party goods found in over 40,000 retail outlets worldwide
» LensCrafters is the leading optical retailer in North America with over 1,000 locations

LOCATED IN A DENSELY POPULATED AND GROWING TEXAS CORRIDOR
» High-visibility and easily accessible location along Dixieland Road (5,648 AADT)
» Immediate access to highly trafficked Texas thoroughfares, including Interstate 2 and U.S. Route 77 (combined 163,531 AADT)
» Population of 100,217 within a five-mile radius of the location, creating an extremely large customer base for the site
» Projected 13% AAHI increase within five miles of the site in the next five years, poising Party City, LensCrafters, and Harlingen for concurrent growth

CENTRAL LOCATION NEAR MEXICAN BORDER
» Located in the heart of Harlingen’s primary shopping district between Valle Vista Mall and Harlingen Corners (combined 121 stores, 1M SF of retail space)
» Neighbored by one of only six Target locations in the central Rio Grande Valley and the first in the lower Rio Grande Valley
» Target location has been operational since 1980, demonstrating established long-term success at the site
» Located just 10 miles from the Mexican border (with direct access to the U.S. via the Free Trade Bridge) and less than 27 miles from Matamoros, Mexico
» The property experiences a high daily influx of Mexican citizens who cross the border for shopping and leisure (daytime population of 107,476 residents within a five-mile radius)
» Prices for retail goods are typically higher in Mexican border towns than U.S. border towns due to import costs and Mexican supply chain limitations, significantly increasing traffic to Party City & LensCrafters

NEW 2023 CONSTRUCTION IN A TAX-FREE STATE
» New high-quality 2023 construction
» Texas is an income tax-free state

Property Description

» This two-tenant property has a high-visibility and easily accessible location along Dixieland Road
» The property has immediate access to highly trafficked Texas thoroughfares, including Interstate 2 and U.S. Route 77 (combined 163,531 AADT)
» The site is neighbored by one of only six Target locations in the central Rio Grande Valley and the first in the lower Rio Grande Valley
» Ideally set in a large retail corridor, the property is surrounded by notable retailers such as Valle Vista Mall and Harlingen Corners (combined 121 stores, one million SF of retail space), Burlington, Academy Sports + Outdoors, Five Below, Chick-fil-A, and many more, creating significant crossover shopping
» This dual-tenant property experiences a high daily influx of Mexican citizens who cross the border for shopping and leisure (daytime population of 107,476 residents within a five-mile radius)
» 100,217 residents live within a five-mile radius of the site, providing an extremely large and reliable customer base