The Village at Colleyville is an 89 percent occupied 7,923-square foot, retail flex building that is part of a condo association, providing an investor a unique opportunity in the highly desirable Dallas-Fort Worth suburb of Colleyville, Texas. Tenants consist of Village Apothecary and Moraine & Associates, PLLC. Both leases are triple-net, have annual rent escalations during the primary term, and have options for renewal. Village Lane Apothecary is a long-term lease with eleven years remaining on the primary term. Situated on a 0.18-acre parcel, the building was constructed in 2004 and has an attractive façade.
The subject property is located on the hard corner of Village Lane and Terra Cotta Way just west of State Highway 26, the city’s major north/south thoroughfare. This location benefits from a surrounding area with phenomenal demographics, serving a population exceeding 264,552 residents within a five-mile radius and with an average household income of $173,936 within a one-mile radius. The Village neighborhood is comprised of luxury residential condominiums and specialty restaurants, shops, and medical/office suites. National and regional tenants nearby include Walmart Neighborhood Market, Chase Bank, Leslie’s Pool Supplies, Farmers Insurance, Worthington National Bank, and a new Chick-fil-a. South of the property on State Highway 26 are Whole Foods, Goody Goody Liquor, Zoe’s Kitchen, Einstein Bros. Bagels, Orangetheory Fitness, The UPS Store, BBVA Bank, Ace Hardware, Papa John’s Pizza, Jersey Mike’s Subs, Sonic Drive-In, and others.
- 7,923-Square Foot, Retail Flex Center
- 89% Occupied | 57% of the Gross Leasable Area is Leased to Village Lane Apothecary | 32% is Leased to Moraine & Associates, PLLC
- Both Leases are Triple-Net and Have Annual Rent Escalations
- Building has Attractive Architecture and is Part of a Condo Association with Limited Maintenance Responsibilities
- Significant Building Renovations in 2015 Included a New Roof, All New Interior Finish, and New Mechanical Systems
- Desirable Location in a Highly Affluent, Densely Populated Area of the Mid Cities
- Average Household Income Within One Mile is $173,936 | $138,791 Within Three Miles | $112,944 Within Five Miles | Population Exceeds 264,552 Residents Within Five Miles
- Near a Walmart Neighborhood Market-Anchored Retail Center and a Whole Foods-Anchored Retail Center
- Located on the Hard Corner of Village Lane and Terra Cotta Way Just West of State Highway 26/Colleyville Highway – the City’s Major Thoroughfare
- $38 Million State Highway 26 Phase II Reconstruction Project is Near Completion | Widened the Roadway to Three Lanes in Each Direction and Enhanced Curb Medians
- Property is Two Blocks from Colleyville City Hall | $2.8 Million Public Plaza Currently Under Construction to be Completed by the End of 2019
- Proposed City Enhancements Along State Highway 26 Include Entry Enhancements, Median Landscaping Upgrades, Flagstone Paving at Gateway Elements to Accommodate Bike Traffic, Stone Veener on TxDOT Walls, and Median Tree Uplighting