Marcus & Millichap is pleased to offer the opportunity to acquire a newly constructed 8,957-square foot multi-tenant retail center in the highly desirable Dallas/Fort Worth suburb of Plano, Texas. The center is 100 percent occupied with three tenants: Saalna South Indian Eatery, Cozy Nail Spa, and Dental Studio 121. All leases are triple-net and have annual rent escalations. The leases all have two five-year options for renewal at market rates. Current rental rates are below market. Constructed in 2017, the building sits on approximately one acre of land.
The subject property is located on the south side of the Sam Rayburn Tollway (State Highway 121), just east of the intersection with Coit Road. Traffic counts on Sam Rayburn Tollway are approximately 57,325 vehicles per day and 25,500 vehicles per day on Coit Road. The property is adjacent to a Kroger grocery-anchored shopping center, with tenants including Bank of America, Comerica Bank, Chase Bank, Capital One Bank, Subway, and The UPS Store. Baylor Scott & White Medical Center – Centennial, a 118-bed, full-service hospital, is located in the northeast quadrant of the Sam Rayburn Tollway/Coit Road intersection. The surrounding area has phenomenal demographics. A highly affluent area, the average household income within one mile is $121,380; $136,670 within three miles; and $128,650 within five miles. More than 262,700 residents live within five miles of the subject property.
- Kroger Shadow Anchored Multi-Tenant Retail Center
- New 2017 Construction | 100 Percent Occupied by Three Internet Resistant Tenants
- All Leases are Triple-Net and have Annual Rent Escalations
- All Leases have Two Five-Year Options for Renewal at Market Rates
- Desirable Freeway Location off Sam Rayburn Tollway (State Highway 121) in Plano, Texas Near Coit Road
- Traffic Counts | Sam Rayburn Tollway – 57,325 VPD | Coit Road – 25,500 VPD
- Highly Affluent Area | One Mile Average Household Income is $121,380
- Heavily Populated with More than 262,700 Residents Within Five Miles
- Two-and-one-Half Miles from a Dense Retail Trade Area at Sam Rayburn Tollway and Preston Road, Featuring Stonebriar Centre Shopping Mall (165+ Stores and 1,630,000 Square Feet of Gross Leasable Area), Dr. Pepper Arena, and Dr. Pepper Ballpark