Investment Highlights
Appealing Value-Add Investment Opportunity.
At 89% occupancy, South Towne Crossing offers an investor significant upside potential resulting from the strategic and timely lease-up of the existing vacant space. More than 6,300 square feet of prime shallow bay depth retail space can be backfilled within the center resulting in significantly enhanced cash yields and investment returns.
Prime Location in Thriving Regional Trade Area.
South Towne Crossing is located at the northeast corner of SW Wilshire Blvd and NW John Jones Drive with more than 44,500 vehicles per day passing by the center. Directly across from the subject center is the only large format H-E-B Plus! store located in the Dallas/Ft. Worth market, and this grocery store pulls a tremendous amount of traffic to the intersection directly benefitting South Towne Crossing.
Market-Dominant Office Supply Store.
South Towne Crossing’s Office Depot store is the only national credit office supply retailer located within a 10-mile radius of the shopping center.
Stable, High-Traffic Anchors.
With 59,986 square feet of well-positioned lease space, South Towne Crossing is anchored by Office Depot which has been at the center since it opened in 2005. Additional traffic is generated by shadow anchors including Target, Home Depot and Petco. These anchor tenants are the driving force behind repeat customer trips to the center, and this successful Target store is the only Target store located within an 11.5 mile radius of South Towne Crossing.
Compelling Net Operating Income Growth.
Based on a 5 year hold, the compound annual growth rate is more than 5.6% assuming conservative lease up assumptions and rental rates. The majority of tenants at South Towne Crossing do not have renewal options and the average base rent is approximately $22 per square foot.
Excellent Access and Visibility.
South Towne Crossing maintains excellent visibility and access along both major thoroughfares with convenient ingress and egress throughout the center. Additionally, this institutional quality asset has been well-maintained by the current ownership and includes four multi-tenant pylon signs and six points of access around the perimeter of the center.
Site Plan
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Demographics
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