The subject property is a 3,800-square foot newly constructed Bank of America building in Mansfield, Texas. The brand new 15-year absolute net lease has a corporate guarantee from one of the world’s leading financial institutions, publicly traded on the New York Stock Exchange (BAC). The lease has 10 percent rent escalations scheduled every five years, including at the beginning of each of the nine, five-year options for renewal. Situated on 1.35 acres, the property will include a drive thru with an ATM machine.
The subject property is located in a rapidly developing area on East Broad Street about a quarter of a mile west of Texas Highway 360. Traffic counts are approximately 25,700-vehicles per day on Broad Street and over 21,400-vehicles per day on Hwy 360. Area traffic generators include Kroger Marketplace, Vernon Newsom Stadium, Big League of Dreams ballpark, Hawaiian Falls, Mansfield and Lake Ridge High Schools, and Methodist Mansfield Medical Center. A proposed site for a 25,000+ square foot retail center sits directly across from the subject property. Other neighboring retailers include Chick-fil-A, Starbucks, Taco Casa, Whataburger, Chase Bank, RaceTrac, Kwik Kar, Walgreens, DaVita Dialysis, and Rosa’s Café. The surrounding area has phenomenal demographics, with a one mile average household income of $140,300 and over 118,000 residents within five miles.
Mansfield is strategically located in the south central portion of the Dallas-Fort Worth Metroplex. The city borders Arlington on the north, Grand Prairie on the east, unincorporated Tarrant County on the west and Johnson and Ellis counties on the south. Just 30 minutes from DFW International Airport, Mansfield’s location near major interstate highways and roadways offer easy access to Dallas, Fort Worth and other cities in the North Texas region. Mansfield is experiencing tremendous growth, including development of the 870-acre master-planned South Pointe community, The Shops at Broad Development including a 500,000-sf shopping center and apartments, and completion of Texas Highway 360.
- New 15-Year Absolute Net Lease
- 2017 Construction
- Zero Landlord Responsibilities
- Corporate Guarantee from a Publicly Traded Company (NYSE: BAC)
- Lease Has 10% Rent Bumps Scheduled Every Five Years Including Nine, Five-Year Option Periods
- Out Parcel to Kroger Marketplace
- Other Area Traffic Generators Include Vernon Newsom Stadium, Big League of Dreams Ballpark, Hawaiian Falls,
- Mansfield & Lake Ridge High Schools, and Methodist Mansfield Medical Center
- Prime Location in a Rapidly Developing Area
- Signalized Hard Corner Location at the Intersection of Broad Park and Highway 360
- Cumulative Traffic Counts are Approximately 47,000-VPD
- Highly Affluent Area with a One Mile Average Household Income of Over $140,000