Marcus & Millichap is pleased to offer the opportunity to acquire a value-add, 27,672-square foot, multi-tenant retail center with freeway visibility located in Brownsville, Texas. The center is currently 73 percent occupied with 38 percent of the gross leasable area having triple-net leases, providing significant upside potential to a future investor by leasing the vacancies and converting all leases to triple-net. Mesquite Plaza has a complementary tenant mix of predominantly internet-resistant, service-oriented businesses including Sherwin-Williams, FedEx, Xprime Credit Solutions, Onin Staffing, Tijerina Legal Group, Joel Martinez DDS-Orthodontics, and Border Properties. Sherwin-Williams and FedEx are publicly-traded companies. The center was constructed in 1995 and is situated on a 2.41-acre parcel with ample parking.
The subject property is located on Interstate 69, with traffic counts exceeding 71,000 vehicles per day. The property has excellent freeway visibility and is easily accessible with multiple ingress and egress points. Numerous national and regional retailers neighbor the property, including Harbor Freight, Big Lots!, Tuesday Morning, Guitar Center, Planet Fitness, Jack in the Box, Metro by T-Mobile, Cricket Wireless, Burger King, Domino’s Pizza, The UPS Store, Whataburger, McDonalds, Sonic, and many more. Sunrise Mall is less than two miles north of the property, anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Cinemark Theater. The surrounding area is densely populated with over 175,200 residents within five miles. Additionally, the trade area is supported by more than 55,000 daytime employees within a five-mile radius.
- 27,072-Square Foot, Multi-Tenant Retail Center
- Value-Add Opportunity | 73% Occupied | 38% of the Gross Leasable Area has Triple-Net Leases | Pro Forma Cap Rate is 9.64%
- Priced at $130 per Square Foot
- Complementary Tenant Mix of Predominantly Internet-Resistant, Service-Oriented Businesses
- Sherwin-Williams and FedEx are Publicly-Traded Companies
- Located on the Frontage Road of Interstate 69 with Excellent Freeway Visibility | Traffic Counts Exceed 71,000 Vehicles per Day
- Constructed in 1995 | Situated on a 2.74-Acre Parcel with Ample Concrete Parking
- Near Many National Retailers Including Harbor Freight, Big Lots!, Tuesday Morning, Guitar Center, Planet Fitness, Jack in the Box, Metro by T-Mobile, Cricket Wireless, Burger King, Domino’s Pizza, The UPS Store, Whataburger, McDonalds, Sonic, and More
- Less Than Two Miles from Sunrise Mall | Anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Cinemark Theater
- Densely Populated Area with a Five-Mile Population Exceeding 175,200 Residents
- The Brownsville-Matamoros Region is a Hub for International Trade | Services a Population of Approximately 1,137,000 People