Marcus & Millichap is pleased to offer the opportunity to acquire a 9,623-square foot multi-tenant retail center in Arlington, Texas. The center is currently 83 percent occupied, providing upside potential in leasing the remaining vacant suite. Tenants consist of Kids Company Academy Learning Center, Subway, and Fit Lab USA. Subway recently exercised a five-year option for renewal. All leases are triple-net. Constructed in 2007, the building is situated on a 1.0-acre lot.
The subject property is located in a densely populated residential area on Matlock Road near the signalized intersection with Eden Road. Traffic counts a re approximately 3 5,900 vehicles p er day i n front o f t he property. Other national and regional tenants in the area include Jefferson Dental Care, Optimum Eyecare, Walmart Neighborhood Market, Christian Brothers Automotive, CVS, Christian Brothers Automotive, McDonald’s, Allstate Insurance, MetroPCS, Advance America, Family Dollar, Quik Trip, and more. Matlock Center is about three-and-one half miles west of Tarrant County Community College – Southeast Campus, which enrolls more than 12,800 students. The surrounding area has strong demographics, with more than 268,500 residents and an average household income of $85,000 within five miles.
The City of Arlington is a business-friendly city, situated in the center of the Dallas/Fort Worth metroplex. The city has devoted over 100-square miles of space to business, including five business parks, and continues to attract high-quality businesses. Home to the University of Texas at Arlington, Six Flags over Texas, AT&T Stadium and the Texas Rangers, Arlington has become a center for family entertainment, educational excellence, cultural resources and events, attracting more than eight million visitors annually. Arlington is positioned halfway between Dallas and Fort Worth, just eight miles from the Dallas-Fort Worth International Airport, and is the third largest city in North Texas.
• 9,623-Square Foot Multi-Tenant Neighborhood Retail Center
• 83 Percent Occupied | Upside Potential in Leasing Vacant Suite
• All Leases are Triple-Net and have Options for Renewal
• Subway Recently Exercised a Five-Year Renewal with a 10 Percent Rent Increase
• 60 Percent of the Gross Leasable Area has Personally Guaranteed Leases
• Located on Matlock Road in Southeast Arlington | Traffic Counts are Approximately 35,900 Vehicles per Day
• Densely Populated Area with More than 268,500 Residents within Five Miles
• Average Household Income is $85,000 within Five Miles
• Near Tarrant County Community College – Southeast Campus | Enrollment Exceeds 12,800 Students
• Easy Access to Major Freeways | Less than Three Miles South of Interstate 20 and in Between Loop 360 and Highway 287
• The City of Arlington is the Third Largest City in North Texas and Attracts More than Eight Million Visitors Annually