Marcus & Millichap is pleased to offer the opportunity to acquire a two-tenant, big box retail center in the desirable Dallas-Fort Worth suburb of Plano, Texas. The center is 100 percent occupied by Guitar Center and Alida Hospitality (Alida Restaurant Supply). Guitar Center has occupied the center since 1999 and has extended its term until 2026. Alida recently extended its original 10-year term an additional two years. Both leases are triple-net and have options for renewal. The building was originally constructed in 1990 and sits on three acres with ample paved parking.
The subject property is located on the west side of North Central Expressway (U.S. Route 75), in between Park Boulevard and Parker Road. North Central Expressway is highly trafficked, with daily traffic counts exceeding 204,000. The property enjoys excellent access and visibility from the freeway of the building and two dedicated pylon signs. Dense retail lines the freeway, with many national and local retailers in the area including Target, At Home, Buy Buy Baby, Fiesta supermarket, Best Buy, Rooms to Go, Ross Dress for Less, Party City, Petsmart, Burlington, RaceTrac, In-N-Out Burgers, Steak ‘n Shake, Fuzzy’s Taco Shop, Bank of America, and others. The surrounding area has excellent demographics, with an affluent five-mile average household of more than $112,400 and a population exceeding 319,300 residents.
Plano is approximately 18 miles north of Dallas in Collin County and ranks as the ninth most populous city in the state of Texas. The city is an affluent hub for many corporate headquarters, with a stout roster of regional offices including: Intuit, Bank of America Home Loans, Ericsson, McAfee, Frito-Lay, Pizza Hut, NTT DATA (formerly Dell Services), DXC (formerly Hewlett Packard Enterprise), PepsiCo, FedEx Offices and Print Services and many others. New construction includes the headquarters for Toyota Motor North America and regional headquarters for Liberty Mutual Insurance Co. and JPMorgan Chase. In 2016, the City was named the 3rd ‘Best Place to Live in America’ by Money Magazine.
- Two-Tenant, Big Box Retail Strip Center
- Tenants are Guitar Center and Alida Restaurant Supply
- Guitar Center is Long-Term Tenant Since 1999 and has Extended its Term until 2026
- Alida Recently Extended its Original 10-Year Term for an Additional Two Years
- Both Leases are Triple-Net
- Situated on a Large Three-Acre Lot with Ample Paved Parking
- Each Tenant has a Dedicated Pylon Sign
- Freeway Location with Extremely High Traffic Counts of More than 204,000 Vehicles per Day
- Excellent Visibility and Access from the Freeway
- Highly Affluent Surrounding Area | Five-Mile Average Household Income is $112,439
- Population Exceeds 319,300 Residents within Five Miles
- Plano is Home to Many Regional Corporate Offices, Including Intuit, Ericsson, McAfee, Frito-Lay, Pizza Hut U.S., PepsiCo, DXC (Formerly Hewlett Packard Enterprise), Bank of America Home Loans, and Others
- Newer Construction Includes Headquarters for Toyota Motor North America and Regional Headquarters for Liberty Mutual Insurance Co. and JPMorgan Chase