Shops at Valle Vista

Price: $6,200,000
Sq. Ft.: 14,113
Cap Rate: 7.48%
Built: 1985/2017
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Marcus & Millichap is pleased to offer the opportunity to acquire a 14,113-square foot, multi-tenant retail center located in a dense retail trade area at the intersection of two major highways in Harlingen, Texas. The Shops at Valley Vista is currently 100 percent leased, and all leases are triple-net. The center is a complementary mix of internet-resistant tenants, consisting of Freddy’s Frozen Custard & Steakburgers, T-Mobile, Mariner Finance, All-Star Nutrition, Visionworks, Rio Mattress Outlet, and Texas Car Title & Payday Loan Services.  The center was originally constructed in 1985, renovated in 2017, and is situated on a 1.2-acre parcel.

The subject property sits on the east side of Dixieland Road at the intersection of Interstate 2 and Interstate 69 East.  Shops at Valle Vista is located is a dense retail trade corridor and is easily accessible with multiple ingress and egress points. The center is shadow-anchored by Target and is directly across from Valle Vista Mall, a regional mall anchored by Dillard’s, JC Penney, Gold’s Gym and Big Lots, with more than 80 stores and restaurants. A new TJ Maxx store is currently under construction adjacent to Target, with a scheduled opening date in October 2020. Other national retailers include Ulta Beauty, Hibbett Sports, Five Below, Burlington, Ross Dress for Less, Bealls, Dollar Tree, Walmart, H-E-B Grocery, Goodwill, Office Depot, Bass Pro Shops, and more. The property is well-situated in a dense residential area, with a population exceeding 93,000 residents within a five-mile radius.

  • Shadow-Anchored by Target | New TJ Maxx Currently Under Construction Adjacent to Target, Scheduled to Open Fall 2020
  • 100% Leased | 100% of the Current Leases are Triple-Net
  • Complementary Mix of Internet-Resistant
  • 80% of the Gross Leasable Area has Credit Tenants
  • Building was Substantially Renovated in 2017
  • Sits on a 1.2-Acre Lot with Ample Paved Parking
  • Property is Easily Accessible with Multiple Ingress and Egress Points
  • Located in a Prime Retail Trade Area at the Intersection of Interstate 2 and Interstate 69 East, Surrounded by Numerous National and Regional Tenants
  • Directly Across from Valle Vista Mall, a Regional Mall Serving the Nearby Communities of Brownsville, Mercedes, Weslaco, and McAllen | 80+ Stores and Restaurants | Anchored by Dillard’s, JCPenney, Big Lots, and Gold’s Gym
  • Population Exceeds 93,250 Residents Within a Five-Mile Radius
  • The Free Trade Bridge at Los Indios, a State-of-the-Art International Bridge, is Located 10 Miles South of Harlingen | Provides a Seamless Highway Connection  for More Efficient Distribution of Industrial Products to and from Interior Mexico