The subject property is a 9,636-square-foot, two-tenant retail center located in Mansfield, Texas. The center is 100 percent occupied with triple-net leases, and both tenants have renewal options. The tenant base consists of internet-resistant businesses including a top-ranking Jason’s Deli and Centrum Health. Jason’s Deli ranks in the 91st percentile in the state of Texas and 94th percentile in the nation, based on annual visitors to all Jason’s Deli locations. The lease with Centrum Health includes three percent annual rent escalations. The building was constructed in 2003 and features a drive-thru window in the Jason’s Deli suite. A double-sided monument sign faces U.S. Highway 287, offering additional exposure to the center.
The subject property is located in a dense retail trade area off U.S. Highway 287, just south of the signalized intersection at East Debbie Lane. Cumulative traffic counts are approximately 98,157 vehicles per day. Numerous national and regional retailers are in the neighboring area, including Target, Home Depot, Half Priced Books, PetSmart, Painted Tree Boutiques, Famous Footwear, Ross Dress for Less, Chili’s Grill & Bar, RaceTrac, Buffalo Wild Wings, Cotton Patch Cafe, Spring Creek Barbeque, Lowe’s Home Improvement, Sam’s Club, Marshalls, HomeGoods, Best Buy, Petco, Dollar Tree, ULTA Beauty, Cinemark, Olive Garden, Applebee’s Grill + Bar, 24 Hour Fitness, Texas Health Breeze Urgent Care, and many more. The surrounding area benefits from excellent demographics, serving a population of more than 184,702 residents within a five-mile radius. The average household income is $106,326 within one mile; $119,048 within three miles; and $115,578 within five miles.
- 9,636-Square-Foot, Two-Tenant Retail Center | High-Visibility Position on Major Highway 287 Corridor
- Fully Stabilized Asset | 100% Occupied | 100% Triple-Net Leases
- Anchored by Top-Performing Jason’s Deli Location | This Location Ranks in the 91st Percentile for the State of Texas, and in the 94th Percentile Nationwide, Compared to Other Jason’s Deli Locations Based on Consumer Traffic (source: Placer Labs, Inc.)
- Jason’s Deli Suite Features a Drive-Thru Window
- Centrum Health Lease has 3% Annual Rent Increases
- Located in a Prime Retail Corridor off U.S. Highway 287 and Debbie Lane | Traffic Counts are Approximately 71,813 Vehicles per Day on U.S. Highway 287 and 26,344 Vehicles per Day on Debbie Lane
- Close Proximity to National and Regional Retailers Including Target, the Home Depot, PetSmart, Ross Dress for Less, Lowe’s Home Improvement, Sam’s Club, Marshalls & HomeGoods, Dollar Tree, Cinemark, 24 Hour Fitness, and More
- Near Several National Hotel Chains, Providing Additional Traffic to the Area
- Highly Affluent Area | One-Mile Average Household Income is $106,326 | Three-Mile Average Household Income is $119,048 | Five-Mile Average Household Income is $115,578 | Population Exceeds 184,702 Residents Within Five Miles
- Mansfield is Experiencing Tremendous Growth, Including Development of the 870-Acre Master-Planned South Pointe Community, The Shops at Broad Development Including a 405,000-Square-Foot Shopping Center and Apartments, and Completion of Texas Highway 360