Kennedale Town Center is a mixed-use, multi-tenant development located along one of the city’s major thoroughfares in the Fort Worth suburb of Kennedale, Texas. The offering presents a unique opportunity for an investor to realize tremendous upside potential. In place income is derived from a ground lease for buildings 5, 6, and 7 which total 23,480 square feet of gross leasable area. Building 5 is currently 67 percent occupied, and tenants consist of Subway, Adkinson Farmers Insurance, Monica’s Nail Spa, and Kennedale Family Dental. Building 6 is currently 100 percent vacant, presenting a value-add opportunity. Building 7 is 100 percent occupied, and tenants include Chicken Express, Bravo Eats, Emerie Grace Salon, and Dickey’s Barbecue Pit. All current leases are triple-net, and the majority have annual rent escalations.
Per the Economic Development Agreement for Development detailed on page five, the offering includes the option to develop pad sites 2R, 3R, and 4R. Once the pad sites are developed, the landlord has the option to purchase for one dollar the fee simple interest in the approximate eight acres of land under Kennedale Town Center as well as Building 1, a 43,316-square foot, multi-tenant retail center anchored by Dollar General that is 100 percent occupied with triple-net leases.
- Long Term Ground Lease with Tremendous Upside Potential
- In Place Income Derived from Buildings 5, 6, 7 | Currently 59% Occupied with Significant Upside | Pro Forma Cap Rate is 14,74%
- Potential Future Income from Exercising Purchase Option to Build out Three Pad Sites and Acquire Building 1 | 100% Occupied Multi-Tenant Retail Center Anchored by Dollar General
- Master Planned Town Center Development in Partnership with the City of Kennedale to Create a Vibrant, Family Friendly, Center City Environment
- Located on Kennedale Parkway, a Major Thoroughfare | Traffic Counts are Approximately 14,000 Vehicles per Day
- Easily Accessible from Multiple Ingress and Egress Points
- Located in the Heart of Kennedale’s Targeted Downtown District and Growth Corridor | the City has Experienced Tremendous Growth in Residential Development | More than 17% Population Growth Rate over the Past 10 Years
- Adjacent to City Buildings Including Kennedale Municipal Building, Chamber of Commerce, Police Station, the Public Library, and TownCenter Park (Host of Annual Festivals and Vendor Events)
- Strong Demographics in the Surrounding Area | One-Mile Average Household Income is $96,173 | Five-Mile Population Exceeds 165,750