Marcus & Millichap is pleased to offer the opportunity to acquire an 18,694-square foot, value-add multi-tenant strip center located in a dense retail trade of Grapevine, Texas. Lone Star Pavilion is 92 percent occupied with all tenants having triple-net leases and 92 percent of the gross leasable area having credit tenants. Tenants consist of Fuzzy’s Taco Shop, Mattress Firm, The Leather Sofa Company, and FedEx Office. The subject property consists of two buildings constructed in 2005, situated two parcels of land totaling 2.57 acres. The property has ample paved parking.
The subject property is located at the high-traffic intersection of Grapevine Mills Parkway and Texas Highway 121. Traffic counts on Grapevine Mills Parkway are 54,000 vehicles per day and approximately 127,200 vehicles per day on Highway 121. Lone Star Pavilion sits directly across the road from Grapevine Mills Mall, an indoor mall featuring 180 stores of shopping, entertainment, and restaurants. Featured stores include Neiman Marcus Last Call, Saks Fifth Avenue Off 5th, H&M, Burlington Coat Factory, Marshalls, Forever 21, Nike Factory Store, Coach Factory, Ann Taylor Factory Store, Under Armour, and more. Grapevine Mills also features AMC Grapevine Mills 30 with Dine-In Theatres, Fieldhouse USA, LEGOLAND Discovery Center, Sea Life Aquarium, The Escape Game, Round 1 Bowling and Amusement, and Rainforest Café. Numerous other retailers are in the surrounding area, including Ashley Home Store, Rooms to Go, Cracker Barrel Old Country Store, Chuck E. Cheese’s, Altitude Trampoline Park, Chair King, Blue Goose Cantina, Discount Tire, Chick-fil-A, Chipotle, Applebee’s, Steak ‘N Shake, and Bass Pro Shop.
- 18,694-Square Foot Multi-Tenant Shopping Center in a Dense Retail Trade Area
- 92% Occupied | All Current Leases are Triple-Net
- Strong Tenant Base | All Current Leases Include National or Regional Tenants
- Future Upside Potential | The Center Currently has One Vacant Suite and Two Tenants that have Below Market Rents
- Consists of Two Buildings Situated on 2.57 Acres With Ample Paved Parking
- High-Traffic Location at the Intersection of Grapevine Mills Parkway and Texas Highway 121 | 54,000 Vehicles per Day on Grapevine Mills Parkway | 127,200 Vehicles per Day on Highway 121
- Directly Across from Grapevine Mills Mall, a Popular Destination for Shopping, Dining and Entertainment | 180+ Stores | Features Major Retailers as well as AMC Grapevine Mills 30 with Dine-In Theatres, Fieldhouse USA, LEGOLAND, Sea Life Aquarium, Rainforest Cafe, Round 1 Bowling and Amusement, and Much More
- Near Gaylord Texas Resort & Convention Center | Hosts One Million Visitors Annually
- The City of Grapevine is a Popular Tourist Destination and Attracts Approximately 15 Million Visitors Annually
- Property is in Close Proximity to Dallas-Fort Worth International Airport
- Excellent Demographics | Population within Five Miles is 173,764 Residents with an Average Household Income Exceeding $117,000