Investment Summary
Price | $3,357,000 |
Cap Rate | |
NOI | |
Lease Term | Various |
Lease Type | Various |
Rental Increases | Various |
Year Built | 2016 |
Building Size | 10,150 SF |
Lot Size | 1.04 acres (45,302 SF) |
Status | Sold |
Lead Brokers | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 KC Patterson Associate 925.627.2884 kc.patterson@cushwake.com CA RE License #02034317 |
Investment Highlights
100% LEASED MULTI-TENANT RETAIL CENTER
» Strong mix of service-oriented, “Amazon-proof” tenants
» Scheduled rental increases, providing a hedge against inflation
» Long-term leases for all tenants
» Multi-tenant property allows for investment diversification
HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Close to the signalized intersection of Brentwood Drive and Whitehouse Drive
» Just off of U.S. Highway 59, which has a high traffic count of 38,248 vehicles per day
» Less than a mile south of the interchange between U.S. Highway 59 and Loop 287, which experiences a high traffic volume of 88,248 vehicles per day
» Prominent location in the heart of Lufkin’s primary retail corridor
» Outparcel to a large shopping center anchored by Academy Sports + Outdoors and Burlington
» Near Lufkin Mall, a major retail destination for a 12-county primary trade area in East Texas
NEAR MAJOR SCHOOLS AND EMPLOYERS
» Within walking distance of Angelina College, one of the state’s fastest growing community colleges, with an enrollment of nearly 5,300 students
» Minutes from some of the largest employers in the region, including Pilgrim’s Pride (1,300 employees) and the 271-bed CHI St. Luke’s Health-Memorial Lufkin (1,075 employees)
NEW CONSTRUCTION
» High-quality 2016 construction
» 62 parking stalls in parcel, plus ample cross-access parking throughout shopping center
Property Description
SOLD
The property is conveniently located just off of U.S. Highway 59, which has a high traffic count of 38,248 vehicles per day. The property is less than a mile south of the interchange between U.S. Highway 59 and Loop 287, which experiences a high traffic volume of 88,248 vehicles per day. Located in a dense retail corridor, the property is outparcel to a large shopping center anchored by Academy Sports + Outdoors and Burlington. The property is surrounded by several other large shopping centers and major retailers, including Lufkin Mall, a major retail destination for a 12-county primary trade area in East Texas. Lufkin Mall features over 60 retailers, including JCPenney, AMC Theatres, T.J. Maxx, Hibbett Sports, and Chick-fil-A. Other nationally recognized tenants in the nearby area include Home Depot, Sam’s Club, Best Buy, Cinemark, Target, Hobby Lobby, Walmart Supercenter, Harbor Freight Tools, and Ulta, amongst many others.
The property is centrally located near large schools and major employers. Angelina College, one of the state’s fastest growing community colleges, is located within walking distance of the property. Angelina College has an enrollment of 5,927 students and employs more than 300 instructors. The property is also minutes from some of the largest employers in the region, including Pilgrim’s Pride (1,300 employees) and the 271- bed CHI St. Luke’s Health-Memorial Lufkin (1,075 employees).