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Marcus & Millichap is pleased to offer the opportunity to acquire a 103,251-square-foot, three-tenant community center located in Fort Worth, Texas. The center is anchored by a top-performing Hobby Lobby, ranked in the 83rd percentile in the nation as compared to other Hobby Lobby locations (source: Placer.ai). Hobby Lobby has occupied the center more than 23 years. Family Thrift Center is on a new 10-year lease for the adjacent suite. A pad site leased to Metro by T-Mobile sits at the property entrance off Hulen Street and is separately parceled. All leases are triple-net and include options for renewal with rent increases. The buildings are situated on two parcels totaling 8.46 acres with ample paved parking, and a double-sided monument sign faces Hulen Street, providing additional exposure to the center.
Hulen Ridge Shopping Center is located on South Hulen Street, near the signalized intersection of Overton Ridge Boulevard and just south of Interstate 20. Traffic counts in front of the property exceed 40,965 vehicles per day. Hulen Ridge Shopping Center is in close proximity with Hulen Mall, a diverse-scale shopping mall in southwest Fort Worth. Hulen Mall features more than 127 specialty shops and stores and is anchored by Macy’s and Dillard’s. The center is located in a dense retail trade area, neighbored by numerous national and regional tenants including Michaels, Old Navy, Barnes & Noble, Total Wine & More, Half Price Books, Walmart, Dollar Tree, Floor & Décor, Costco, Target, Sam’s Club, Lowe’s Home Improvement, Best Buy, Kohl’s, The Home Depot, Burlington, HomeGoods, Dick’s Sporting Goods, TJ Maxx, Sprouts Farmers Market, and many more. The property is well positioned to serve a dense residential area with a population exceeding 281,598 residents within a five-mile radius, and an average household income of $99,597 within a three-mile radius, and $92,628 within a five-mile radius.
- 103,250-Square-Foot, Three-Tenant Community Center Located in a Prime Retail Trade Area of Fort Worth | $11.3 Billion in Annual Retail Sales within a Five-Mile Radius
- Strong Tenant Base Featuring 100% National and Regional Tenants | All Leases are Triple-Net
- Anchored by a Top-Performing Hobby Lobby | This Location Ranks in the 83rd Percentile Nationwide, Compared to other Hobby Lobby Locations (Source: Placer.ai) | Long-Term Tenant in the Center for 23+ Years
- New 10-Year Lease with Family Thrift Center | Operates 30 Thrift and Outlet Stores in the State of Texas
- Includes a Separately Parceled Pad Site Leased to Metro by T-Mobile, Providing Potential Future Upside in Spinning off the Pad Site
- Current Average Rents are Well Below Market
- Double-Sided Monument Sign Provides Additional Exposure to the Center
- Located in a High Traffic Area South of Interstate 20, Near the Signalized Intersection of South Hulen Street and Overton Ridge Boulevard | Traffic Counts in Front of the Property on Hulen Street Exceed 40,965 Vehicles per Day
- Close Proximity to Hulen Mall | 127+ Specialty Shops and Anchored by Macy’s and Dillard’s | Other Major Traffic Drivers in the Area Include Michaels, Old Navy, Barnes & Noble, Total Wine & More, Half Price Books, Walmart, Dollar Tree, Floor & Décor, Costco, Target, Sam’s Club, Lowe’s Home Improvement, Best Buy, The Home Depot, and More
- Well Positioned to Serve a Densely Populated Area of Fort Worth | 281,598 Residents within Five Miles | Average Household Income is $92,628
- Located Approximately Four Miles from Texas Christian University (Population of 12,938 Students) and Seven Miles from Downtown Fort Worth
