Walnut Creek Plaza

Price: $5,951,500
Sq. Ft.: 59,297
Cap Rate: 7.25%
Built: 1997

Marcus & Millichap is pleased to offer the opportunity to acquire Walnut Creek Plaza, a 59,297-square foot, two-tenant retail center leased to Big Lots and Urban Air Adventure Park. Big Lots, a publicly traded company, occupies 45 percent of the gross leasable area and has five options for renewal. Urban Air Adventure Park is ranked 97 overall in Entrepreneur Magazine’s Franchise 500,  occupies 55 percent of the gross leasable area, has one option for renewal, and yearly rent bumps. Both leases are triple-net leases. Originally constructed in 1997, the building is situated on 5.8 acres and is in line with a multi-tenant retail center. Walnut Creek Plaza is located at the southwest quadrant of State Highway 287 and North Walnut Creek Drive. Traffic Counts on State Highway 287 are approximately 45,900 vehicles per day and 20,200 vehicles per day on Walnut Creek Drive. The property is located in a dense retail trade area with numerous national and regional retailers in the surrounding area including Walmart Supercenter, Tom Thumb, CVS Pharmacy, Bed Bath & Beyond, Party City, Sam’s Club, Lowe’s Home Improvement, Target, The Home Depot, and many more. The surrounding area has excellent demographics, with a five-mile average household income exceeding $108,700 and population of more than 140,100 residents.

  • Two-Tenant Retail Center Located in a High-Growth Area |  In Line with a Multi-Tenant Retail Center
  • 100% Occupied | Both Tenants are Triple-Net
  • Leased to Big Lots and Urban Air Trampoline and Adventure Park
  • Urban Air Recently Exercised an Early Five-Year Renewal
  • Big Lots is a Publicly Traded Company (NYSE:  BIG) | Tenant has Four Five-Year Options for Renewal Remaining
  • Only Store for Both Tenants in the Mansfield Market
  • Priced at $100 per Square Foot | Well-Below Replacement Cost
  • Located at the Southwest Quadrant of SH 287 and North Walnut Creek Drive | Traffic Counts on SH 287 are Approximately 45,900 Vehicles per Day and 20,200 Vehicles per Day on Walnut Creek Drive
  • Dense Retail Trade Area, Including Walmart Supercenter, Tom Thumb, 24 Hour Fitness, Bed Bath & Beyond, Party City, PetSmart, Sam’s Club, Lowe’s Home Improvement and More
  • Excellent Demographics | Average Household Income Exceeds $108,700 Within Five Miles of the Property with a Population of Approximately 140,100 Residents