Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, multi-tenant retail center in Hurst, Texas. Village Square is currently 88 percent occupied, providing upside potential in leasing the vacant space. Tenants consist of Family Dollar, Mission Central, Kim Huynh Nail Salon, Thrifty Pirate, Calliepop Vinyl, Epik Cards & Games, H&R Block, Sunshine Beauty Salon, Yoon Beauty Supply, Joshua of Christ Church, Mandala Dance School, Sylvan Meadows HCS, Wooden Duck Tavern, Lone Star Wash & Dry, Cell Stop and the Hurst Police Department. All existing leases excluding Family Dollar are triple-net leases. Constructed in 1980, the subject property consists of three buildings situated on 7.35 acres.
The subject property is located on East Pipeline Road with multiple ingress and egress points. Traffic counts on East Pipeline Road are approximately 43,000 vehicles per day. The center is adjacent to Kroger grocery store, which has recently completed store renovations. Other neighboring national and regional retailers in the area include Domino’s Pizza, Dollar General, Subway, Boost Mobile, CVS Pharmacy, Walmart Neighborhood Market, Dollar Tree, and Pizza Hut. The subject property is less than three miles from Northeast Mall, a popular shopping destination in the area. The city of Hurst is located in the heart of the Dallas-Fort Worth Metroplex and part of the Mid-Cities between Dallas and Fort Worth. The area is densely populated with over 218,568 residents within five miles and an average household income of $77,782.
- Value-Add Investment Opportunity in the Dallas-Fort Worth Metroplex
- Adjacent to a Newly Renovated Kroger Grocery Store
- 77,140-Square Foot Retail Center | Currently 88% Occupied | Significant Upside Potential with a 9.85% Pro Forma Cap Rate
- Priced at $79 per Square Foot | Well Below Replacement Value
- Anchored by Family Dollar | Long-Term Tenant that has Occupied the Center for more than 25 Years
- All Existing Leases Excluding Family Dollar are Triple-Net
- Current Rental Rates are Below Market
- Complementary Mix of Internet-Resistant Tenants
- Comprised of Three Buildings Situated on 7.35 Acres
- Located on East Pipeline Road | Traffic Counts are Approximately 43,000 Vehicles Per Day
- Densely Populated Area with over 218,568 Residents Within Five Miles and an Average Household Income of $77,782