Marcus & Millichap is pleased to offer the opportunity to acquire a 67,843-square foot, mutli-tenant retail center in a prime retail corridor of Southlake, Texas. Wyndham Plaza is comprised of four multi-tenant buildings and one single tenant building. The center is currently 96 percent occupied, and all of the current leases are triple-net leases. The complementary internet-resistant tenant base is a mix of national and local credit tenants. Tenants include Sleep Experts, Berkshire Hathaway – PenFed Realty, i Fratelli Pizza, The UPS Store, Einstein Bros. Bagels, The Vitamin Shoppe, Sushi Zen, The Interior Collection, StretchLab, Row House, Great Expressions Dental, Wildwood Grill, New Balance, One Stop Nutrition, Cinnaholic, Johnny B’s, Taziki’s Mediterranean, Vitality Bowls, iCode, Fish City Grill, Mangos Breakfast & Brunch, Elements Massage, DK Nail Spa and Phenix Salon. Constructed in 2003 and 2004, the buildings are situated on six parcels totaling 7.69 acres.
Wyndham Plaza is located on Southlake Boulevard at the signalized intersection of Southlake Boulevard and Nolen Drive. Cumulative traffic counts exceed 40,000 vehicles per day in front of the center. The center is shadow-anchored by Costco and near multiple national and regional retailers including Lowe’s Home Improvement, HomeGoods, Staples, Ulta Beauty, Kohl’s, The Home Depot, Kroger, PGA Tour Superstore, PetSmart, Old Navy, and many more. Wyndham Plaza is less than two miles from Southlake Town Square, a unique, open-air lifestyle shopping district with more than 120 shops and fine restaurants whose reputation has been recognized throughout the country. The surrounding area has excellent demographics; the five-mile average household income is $158,902, and the population is more than 126,173 residents within five miles of the property.
- 67,843-Square Foot, Multi-Tenant Retail Center | Comprised of Four Multi-Tenant Retail Buildings and One Single-Tenant Building
- Shadow-Anchored by Costco | Surrounded by Dense Retail with Numerous National and Regional Tenants
- 96% Occupied | All Leases are Triple-Net
- Internet-Resistant Tenant Base | Mix of National and Local Credit Tenants
- Long-Term Leasehold Interest | 97 Years Remaining on Ground Lease
- 100% of the Purchase Price is Tax-Depreciable
- Located at the Signalized Intersection of Southlake Boulevard and Nolen Drive | Cumulative Traffic Counts in Front of the Property Exceed 40,000 Vehicles per Day
- Strong Demographics | Average Household Income is $158,902 Within Five Miles | 126,173 Residents within Five Miles
- Southlake is a Highly Affluent Suburb of Dallas/ Fort Worth and has One of the Highest Median Incomes of any City in the State of Texas
- Subject Property is Less than Two Miles from Southlake Town Square | A Unique, Open-Air Lifestyle Shopping District with More than 120 Shops and Fine Restaurants
- Six Miles West of Dallas/Fort Worth International Airport | Serves More than 75 Million Passengers per Year
- Assumable CMBS Financing in Place | Interest Rate is 4.64% with a Cash-on-Cash Return of 11.76%
- Subject Property is Part of a Portfolio that Includes the Adjacent Property Wyndham Plaza II | May be Purchased Together or Separately | VIEW WYNDHAM PLAZA II