Marcus & Millichap is pleased to offer the opportunity to acquire a 96 percent occupied, multi-tenant retail center in Brownsville, Texas. Built in 2010, the center is comprised of three buildings totaling 25,130 square feet, situated on 2.155 acres. Tenants consist of T-Mobile, D’Event, Los Generales Boots, Shot Republic Bar, The Laboratory Lounge, Sunglass Shop, Team Beauty, Etoile de Paris Beauty Spa, Fit Kitchen, Constantino Hair Salon, Ibissa Lounge Bar, and Mi Pueblito Restaurant. All current leases are triple net; however, the landlord has not been collecting expense reimbursements providing tremendous upside potential.
The subject property is located on Pablo Kisel Boulevard at the intersection with Springmart Boulevard in a major retail trade area just east of Interstate 69, with traffic counts exceeding 50,000 vehicles per day. Numerous national and regional retailers neighbor the property, including Buffalo Wild Wings, Target, TJ Maxx, Burlington Coat Factory, Office Depot, Michaels, PetSmart, Ulta Beauty, Chuck E. Cheese’s, Rudy’s, Chili’s, Johnny Carino’s, Ross Dress for Less, Pier 1 Imports, Best Buy, Gold’s Gym, Marshall’s, Hampton Inn, K Mart, Ashley Furniture, Bed Bath & Beyond, Old Navy, Staples, IHOP, and many others. Sunrise Mall is less than a mile south of the property, anchored by Dillard’s, JCPenney, Bealls, Dick’s Sporting Goods, Sears, and Cinemark Theater.
The surrounding area is densely populated with over 151,600 residents within five miles. Additionally, the trade area is supported by more than 55,000 employees within a five-mile radius. The city of Brownsville’s proximity to the Mexican border draws consumers from both the United States and Mexico, including nearby Monterrey, Mexico’s second wealthiest city with a population of approximately 1.2 million people.Brownsville is the largest city in the Rio Grande Valley and is located in the southernmost tip of Texas on the coast by the Gulf of Mexico. Brownsville is just minutes away from South Padre Island, a popular tourist destination. Brownsville is home to The Port of Brownsville, the only deep-water port located on the U.S.-Mexico Border. The port handles a wide variety of cargo, including steel products, liquid, break bulk and dry bulk commodities. The port is vital asset to the region providing over 8,000 jobs.
- 96% Occupied Multi-Tenant Retail Center
- Comprised of Three Buildings Totaling 25,130 Square Feet
- All Leases are Triple Net
- Landlord is Not Currently Collecting Expense Reimbursements, Providing Tremendous Upside Potential
- Located at the Intersection of Pablo Kisel Boulevard and Springmart Boulevard in a Major Retail Trade Area off of Interstate 69
- Surrounded by National Retailers
- Less Than One Mile from Sunrise Mall | Anchored by Dillard’s, JCPenney, Bealls, Dick’s Sporting Goods, Sears, and Cinemark Theater
- Densely Populated Area with Over 151,600 Residents Within Five Miles
- The Brownsville-Matamoros Region is a Hub for International Trade | Services a Population of Approximately 1,137,000 People