Wilshire Gardens

Price: $3,713,000
Sq. Ft.: 8,732
Cap Rate: 6.3%
Built: 2015
NNN
VIEW PACKAGE
JPG14

Marcus & Millichap is pleased to offer the opportunity to acquire a fully stabilized 8,732-square foot, multi-tenant retail center in Burleson, Texas. The building is new 2015 construction situated on approximately one acre. Tenants consist of a mix of credit and local tenants and include Schlotzsky’s, Venus Nail Spa, Dragon Express, and Palio’s Pizza. All leases are triple-net and include options for renewal.

Wilshire Gardens is located at the signalized, hard corner of Southwest Wilshire Boulevard and Southeast Gardens Boulevard, with ingress and egress points from both roads. Wilshire Boulevard is a major north-south thoroughfare in the city, and traffic counts in front of the property are approximately 40,000 vehicles per day. Numerous national and regional retailers are in the neighboring area, including Hobby Lobby, Bealls, Tuesday Morning, Dollar General, Big Lots, Dollar Tree, AutoZone, Dunkin’ Donuts, Advance Auto Parts, Aaron’s, Walgreens, Walmart, CATO, Braum’s, Papa John’s, GameStop, McDonald’s, Target, Office Depot, The Home Depot, Petco, Mattress Firm, Rosa’s Café, H-E-B Grocery, Kroger, CVS, and many others. The property is also in close proximity to several school campuses, such as Burleson Intermediate, Burleson High School, Steam Middle School, and Clinkscale Elementary. The average household income within five miles of the property is $80,680 with a population of 79,000 residents.

Considered a suburb of Fort Worth, Burleson is located in the rapidly growing expanse just south of the city. The residential growth in Burleson has spawned the creation of more than 2,000,000-square feet of retail space since 2000. Retail sales in Burleson have risen at twice the rate of population growth. Additionally, the City of Burleson and Burleson 4A Economic Development Corporation partnered in 2007 to purchase 159 acres of land adjacent to Interstate 35W to create HighPoint Business Park, with the vision of expanding industries such as logistics and distribution, metal fabrication, aerospace/defense and others in Burleson. Businesses currently operating or building in the park include a 90,000-square foot headquarters and distribution center for Chicken E Food Service; a 55,000-square foot manufacturing and distribution center for Wagner-Smith Equipment; a 20,000-square foot headquarters, manufacturing, and distribution center for Airforce Airguns; and a 144,000-square foot headquarters, manufacturing, and distribution center for Hayes & Stolz Manufacturing Company.

  • 8,732-Square Foot, Multi-Tenant Retail Center
  • 100% Occupied | 66% of the Gross Leasable Area has Credit Tenants
  • All Leases are Triple-Net | All Leases have Options for Renewal
  • 86% of the Gross Leasable Area has Leases with Rent Increases during the Primary Term
  • Building is New 2015 Construction
  • Signalized, Hard Corner of Southwest Wilshire Boulevard and Southeast Gardens Boulevard | Ingress and Egress Points from Both Roads | Traffic Counts are Approximately 40,000 Vehicles per Day
  • Numerous National and Regional Tenants in the Area Such as Walmart, Target, Hobby Lobby, Bealls, The Home Depot, Office Depot, ALDI, Kroger, and H-E-B Grocery Store
  • Approximately 79,000 People with an Average Household Income of $80,680 Reside within a Five-Mile Radius
  • Burleson is a Rapidly Growing Suburb of Fort Worth
  • New HighPoint Business Park Development Located on Interstate 35 West has Attracted Headquarters, Manufacturing, and Distribution Centers to the City of Burleson for Companies Including Chicken E Food Service, Wagner-Smith Equipment, Airforce Airguns, and Hayes & Stolz Manufacturing Company