Marcus & Millichap is pleased to offer the opportunity to acquire a retail center anchored by Hobby Lobby and Big Lots. The property is comprised of 148,870-square feet, located in Garland, Texas. In addition to Hobby Lobby and Big Lots, tenants include Mardel and Redline Athletics. The center is currently 92 percent occupied, providing upside potential for leasing the remaining space. All leases are triple-net and include options for renewal. The building was originally constructed in 1995 with renovations in 2002 and is situated on 14.48 acres.
The subject property is located at the signalized intersection of Lavon Drive and Naaman School Road, just south of the President George Bush Turnpike, with multiple ingress and egress points. Cumulative traffic counts are approximately 50,000 vehicles per day. Numerous national and regional tenants are in the surrounding area, including Dollar Tree, Tuesday Morning, Taco Bell, Wendy’s, Subway, Wells Fargo Bank, Urban Air Trampoline Park, Kohl’s, The Home Depot, Lowe’s Home Improvement, PetCo, Best Buy, Half Price Books, Party City, Batteries Plus, and others. Firewheel Town Center is located directly across the Turnpike, with over 125 retail stores and anchored by Dillard’s, Macy’s, AMC Theatres, Barnes & Noble, Dick’s Sporting Goods, Toys ‘R Us, TGI Fridays, DSW, and Pier 1 Imports. The surrounding area is densely populated, with a population exceeding 247,000 residents within five miles and an average household income of $85,000.
- Retail Center anchored by Hobby Lobby and Big Lots with Established Tenant Base
- Additional Tenants Include Mardel and RedLine Athletics
- 92% Occupied | Upside Potential In Leasing the Vacant Space
- All Leases are Triple Net and Include Renewal Options
- Located at the Signalized Hard Corner of Lavon Drive and Naaman School Road, South of the President George Bush Turnpike
- Multiple Ingress and Egress Points | Cumulative Traffic Counts are Approximately 50,000 Vehicles Per Day
Dense Retail in the Surrounding Area
- Firewheel Town Center is Directly Across the Turnpike | Featuring Over 125 Stores | Anchored by Dillard’s, Macy’s, AMC Theatres, Barnes & Noble, Dick’s Sporting Goods, and Toys ‘R Us
- Strong Demographics | Five Mile Population Exceeds 247,500 | Annual Household Income is $85,000