Marcus & Millichap is pleased to offer the opportunity to acquire a 27,611-square foot multi-tenant retail center in a desirable high-growth area in Irving, Texas. The Shops at Regent Cross is fully stabilized at 100 percent occupancy, and all leases are triple net. The tenant base is comprised of internet-resistant restaurants and businesses including Salon Suites, Salsa’s Mexican Grill, Subway, Salad Works, Koriyaki Grill, Scott Alexander DDS, Cavalli Pizza, Primary Care Doctor, Indian Café and others. The tenants benefit from the dense daytime population of over 273,950 people within five miles of the property. Additional income is received from McDonald’s for parking spaces. Constructed in 2007, the building is situated on 3.87 acres.
The subject property is located in a prime location near the LBJ Freeway (I-635)/Belt Line Road intersection on Regent Boulevard, within five minutes of Dallas-Fort Worth International Airport. Traffic counts are extremely high, with more than 133,700 vehicles per day on LBJ Freeway, 43,000 vehicles per day on Belt Line Road, and 18,900 vehicles per day on Regent Boulevard. Surrounding retailers include McDonald’s, McAlister’s Deli, Chipotle, Element Hotel, 7-Eleven, RaceTrac, Starbucks, Jimmy Johns, Panda Express, Smoothie King, Jersey Mike’s, Slim Chickens, Taco Bell, Whiskey Cake, Pin Stack, Taco Cabana, Newk’s Eatery, Amegy Bank, The Dump, The Home Depot, Texas Roadhouse, Fry’s Electronics, 24 Hour Fitness, and many more.
Over 30 Fortune 500 companies are in the immediate area, including ExxonMobile, Kimberly-Clark, and Fluor Corporation. The property is directly across from the 1,000-acre Cypress Waters Development, a master-planned development centered around a 362-acre lake with office, multi-family and retail aspects. Upon completion, Cypress Waters will consist of over 4.5 million square feet of commercial/retail space, 10,000 residences and three schools. The subject property is surrounded by new development including a 200,000 square foot, LEED certified “Intellicenter” office complex positioned on over 123 acres, built with efficiency and sustainability in mind. Intellicenter Dallas joins other office facilities in the immediate area for Epsilon, Citigroup, State Farm, FedEx, and Nissan.
- Fully Stabilized Multi-Tenant Retail Center | 100% Occupied | All Leases are Triple Net
- Internet-Resistant Tenant Base with Restaurants, Medical Offices, and a Salon
- Tenants Benefit from a Dense Daytime Population Exceeding 273,950 People Within Five Miles
- Situated on 3.87 Acres with a Large Paved Parking Lot
- Prime Location Near the LBJ Freeway/Belt Line Road Intersection, Five Minutes from Dallas-Fort Worth International Airport
- Extremely High Traffic Counts | 133,700 Vehicles per Day on LBJ Freeway | 43,000 Vehicles per Day on Belt Line Road | 18,900 Vehicles per Day on Regent Boulevard
- Phenomenal Demographics | Highly Affluent Area with an Average Household Income of Approximately $159,500 within One Mile | Population is 159,246 Residents within Five Miles
- Across LBJ Freeway from Cypress Waters Master Planned Development | Consisting of 4.5M Square Feet of Office and Retail Space, 10,000 Multi-Family Residences, and Three Schools Upon Completion | Home to New Corporate Offices for 7-Eleven, Cheddar’s Casual Cafe, Mr. Cooper Mortgage, Meritage Homes, British Telecom and CoreLogic
- More than 30 Fortune 500 Companies in the Immediate Area, Including ExxonMobil, Kimberly-Clark, and Flour Corporation
- Numerous Commercial and Residential Development Projects in the Surrounding Area