Marcus & Millichap is pleased to present the opportunity to acquire Independence Park, a 31,950-square foot value-add shopping center in the desirable North Dallas suburb of Plano, Texas. The multi-tenant center is 73 percent occupied, providing significant upside potential. All current leases are triple-net and consist of a complementary mix of internet-resistant tenants, including Sigel’s Beverages, Salsa Tex Mex restaurant, Pizza Hut, Heena Salon, 9 Round, Millstone Bakery, Leslie’s Poolmart, State Farm, M3 Salon, Classy K-9 Cuts, #1 Alterations, and Nails in Time. The building was originally constructed in 1994 and sits on 2.67 acres.
- 31,950-Square Foot Multi-Tenant Neighborhood Shopping Center
- Value-Add Opportunity | 73% Occupied | Pro Forma Cap Rate is 9.83%
- Shadow-Anchored by Subzi Mandi, the Largest International Grocery Store in Dallas – Fort Worth
- Complementary Mix of Tenants Comprised of Many Internet-Resistant Businesses
- All Current Leases are Triple Net
- Rents are Below Market
- Situated on 2.67 Acres
- Located at the High-Traffic, Signalized Intersection of Legacy Drive and Independence Parkway | Ingress and Egress Points from Both Roads | Approximately 42,000 Vehicles per Day on Legacy Drive | 23,745 Vehicles per Day on Independence Parkway
- Located in a Densely Populated, Highly Affluent Area of North Plano | Population is more than 302,000 Residents within Five Miles | One-Mile Average Household Income is $130,200 | Three-Mile Average Household Income is $125,460 | Five-Mile Average Household Income is $118,900
- 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
- New Construction Includes Headquarters for Toyota Motor North America and Regional Headquarters for Liberty Mutual Insurance Co. and JPMorgan Chase
