AT&T & Sleep Number Retail Center
TX, United States
| Price | $3,082,000 |
| Cap Rate | |
| NOI | |
| Lease Term | Various |
| Lease Type | |
| Rental Increases | Various |
| Year Built | 2017 |
| Building Size | 5,584 SF |
| Lot Size | 0.93 Acres (40,498 SF) |
| Status | Sold |
| Lead Broker Information | Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
100% LEASED RETAIL CENTER
» Fully leased retail center featuring national tenants with strong brand recognition
» Scheduled rental increases, providing a hedge against inflation
» NNN leases require no landlord management, providing the ideal investment opportunity for an out-of-area investor
HIGH TRAFFIC LOCATION ALONG VICTORIA’S PRIMARY RETAIL CORRIDOR
» Outparcel to retail center anchored by Kohl’s and Academy Sports + Outdoors and located across from a Walmart-anchored retail center
» Excellent access and visibility to over 35,000 vehicles per day along North Navarro Street
» Surrounded by national retailers, including Walmart, Lowe’s, Target, Sam’s Club, Bed Bath & Beyond, Hobby Lobby, Walgreens, and others
PRIME LOCATION IN REGIONAL RETAIL HUB WITH PROVEN CUSTOMER BASE
» AT&T has a strong customer base in the area and its success within the Victoria market prompted expansion to a larger store
» Victoria is the regional retail hub for a seven-county area and serves a trade area of over 250,000 people
NEW 2017 CONSTRUCTION
» High-quality construction completed in 2017
» New building, limiting near-term deferred maintenance or capital costs
» Features latest AT&T and Sleep Number store designs and concepts
Property Description
SOLD
The property is located on North Navarro Street, Victoria’s primary retail corridor, with excellent visibility and access to 35,000 vehicles per day. The site is outparcel to Victoria’s Retail Village, a shopping center anchored by Academy Sports + Outdoors and Kohl’s. The property is directly across from a large retail center anchored by Walmart Supercenter and Sam’s Club and is within walking distance of several other major retailers, including Lowe’s, Hobby Lobby, and Big Lots. Victoria Mall and Victoria Crossing are also within walking distance of the property. Victoria Mall is the only enclosed shopping mall within a 100-mile radius and serves as the primary shopping destination for the Golden Crescent area. Anchored by Dillard’s, JCPenney, Sears, Bealls, Best Buy, Chuck E. Cheese, and a state-of-the-art Cinemark 12, the mall has a strong base of national retailers, including T.J. Maxx, American Eagle, Bath & Body Works, The Children’s Place, and Victoria’s Secret. Victoria Crossing, located across from the mall, is anchored by Target, Bed Bath & Beyond, and Ross. Other notable retailers near the property include Walgreens, Tractor Supply, Home Depot, Whataburger, GameStop, Buffalo Wild Wings, PetSmart, Kirkland’s, Aaron’s, Advance Auto Parts, and many others.
