Abrams Forest Shopping Center is a value-add, multi-tenant neighborhood retail center located in Dallas, Texas. The property consists of two adjacent multi-tenant buildings totaling 69,820 square feet that are situated on a 6.2-acre parcel, and a 13,013-square-foot, single-tenant building on a ground lease with CVS that is positioned on a 1.54-acre parcel. Anchored by a top-performing Dollar Tree, the shopping center is currently 61 percent occupied with average rents below market, providing significant upside potential in leasing the vacant suites. All current leases are on triple-net terms. The tenant base is a complementary mix of internet-resistant and service-oriented businesses including, AutoZone, Anonymously Yours, Custom Security Doors, T-Mobile, Wash N Dry, Kitty Carter’s Dance Factory, Primo Brothers Pizza, and Moderna Bakery & Café.
Abrams Forest is located at the signalized, hard corner of Forest Lane and Abrams Road, with multiple ingress and egress points from each road. Cumulative traffic counts are approximately 74,485 vehicles per day. Shadow-anchored by a Walmart Supercenter that drives over 2.3 million visits annually, numerous other retailers are in the surrounding area, including Kroger, Planet Fitness, O’Reilly Auto Parts, Chick-fil-A, Whataburger, Taco Bell, Church’s Chicken, and more. The Dallas College Richland campus is less than two miles from Abrams Forest Shopping Center, serving the area for nearly 50 years and home to over 20,500 students. The property is strategically located to serve an extremely dense residential population exceeding 401,862 residents within a five-mile radius. Daytime employment is 248,524 people within five miles. Several corporate headquarters are in close proximity, including Texas Instruments, Fossil, and Raytheon Technologies.
- Value-Add, Multi-Tenant Neighborhood Retail Center | Shadow-Anchored by Walmart Supercenter | Drives 2.3M Visits Annually (Source: Placer.ai)
- Anchored by a Top-Performing Dollar Tree | This Location Ranks in the 94th Percentile for the State of Texas and 93rd Percentile Nationwide, Compared to Other Dollar Tree Stores Based on Consumer Traffic (Source: Placer.ai)
- Offering Consists of Two Adjacent Multi-Tenant Buildings Totaling 69,820 Square Feet, and a Separately Parceled 13,013-Square-Foot, Single-Tenant Building on a Ground Lease with CVS (Currently Dark, but Tenant is Paying Rent Per Lease Terms)
- The Shopping Center May be Purchased Separately or with the CVS Parcel | The CVS Parcel May Not be Purchased Independently
- Shopping Center is 61% Occupied with Triple-Net Leases | Tenants are a Mix of National and Local Retailers that are Largely Internet Resistant
- Strong Leasing Momentum | Landlord is Currently Working as Many as Five LOI’s for the Vacant Spaces
- Significant Upside Potential | Pro Forma Cap Rate is 10.11%
- Current Average Rents are Below Market
- Priced at $163 Per Square Foot | Well Below Replacement Cost
- Prime Location at the Intersection of Forest Lane and Abrams Road with Two Signalized, Hard Corner Entrances | High Traffic Counts Exceeding 74,485 Vehicles per Day, Cumulatively | Easy Access to Interstate 635
- Positioned Less than Two Miles from Dallas College Richland Campus | Enrollment is 20,500+ Students
- Close Proximity to Corporate Campuses for Texas Instruments, Fossil, Raytheon Technologies | Part of a Large Daytime Workforce of 248,524+ Employees within Five Miles of the Subject Property
- Well Positioned to Serve an Extremely Dense Residential Population of 401,862 People within a Five-Mile Radius, having an Average Household Income of $97,838
