Marcus & Millichap is pleased to present the opportunity to acquire a 9,600-square-foot, multi-tenant retail center located in El Paso, Texas. The center is currently 100 percent occupied with a mix of gross and triple-net leases, providing upside potential to a future investor by converting all leases to triple-net. Dieter Square has a tenant base of service and government tenants including Allstate Insurance, State Farm Insurance, Reign Beauty Salon & Day Spa, and the United States General Services Administration. The building was constructed in 2008 and is situated on a 0.89-acre parcel.
Dieter Square is located on George Dieter Drive near the signalized intersection of George Dieter Drive and Montana Avenue, a major thoroughfare in the city. Traffic counts in front of the property are approximately 15,600 vehicles per day. The center is near many national retailers including McDonald’s, Circle K, Family Dollar, Walmart, Lowe’s, PetSmart, GameStop, Taco Bell, Peter Piper Pizza, Dollar Tree, and more. Dieter Square is near several school campuses, providing additional traffic to the area. The surrounding area is densely populated, with more than 226,080 residents within a five-mile radius.
- 100% Occupied Multi-Tenant Retail Center
- Value-Add Opportunity | 37% of the Gross Leasable Area has Triple-Net Leases | Upside Potential in Converting Remaining Leases to Triple-Net
- Complementary Mix of Service and Government Tenants | 50% of the Gross Leasable Area has Government Credit
- Situated on a 0.89-Acre Parcel
- Priced at $148 per Square Foot
- Located on Dieter Square Drive near the Signalized Intersection of George Dieter Square and Montana Avenue
- Traffic Counts In Front of the Property Exceed 15,600 Vehicles per Day
- Densely Populated Area with more than 226,080 Residents within Five Mile Miles
- Close Proximity to El Paso International Airport | Serves Approximately 3.2 Million Passengers Annually
- El Paso is the County Seat of El Paso County, Situated in the Far Western Corner of the State of Texas
- Home to Fort Bliss, One of the Largest Military Complexes in the Nation | 38,589 Active Duty Military | 1,253 Reservists | 39,422 Family Members | 13,079 Civilians