Resaca Village

Price: $15,839,000
Sq. Ft.: 173,667
Cap Rate: 8.62%
Built: 1974-2014

Resaca Village is a 173,667-square foot retail power center in Brownsville, Texas. The center is currently 96 percent occupied and has below market rents, providing upside potential. Anchored by Big Lots, Fallas, The University of Texas at Brownsville, CSL Plasma, Harbor Freight Tools, Family Dollar and Tuesday Morning, 76 percent of the gross leasable area is leased to national retailers. The leases are a mix of triple-net and gross. Additionally, Jack in the Box and Border Financial Services have ground leases. Resaca Village has been recently renovated, with newly resurfaced and striped parking field (front and rear), state-of-the-art LED lighting systems, remodeled pylon signage and new tenant facades. The buildings were originally constructed in 1974 and 1994 with renovations in 2005 and 2014, sitting on 18.31 acres.

The subject property is located off of U.S. Highway 83 (I-69) with freeway visibility at the signalized hard corner of East Price Road and South Frontage Street (on-ramp for I-69E). Traffic counts on I-69 are 71,000-vehicles per day and 24,000-vehicles per day on East Price Road. The center has nine access points: five along East Price Road, two along Old Alice Road, one along Sloss Drive, and one along Poinciana Drive. Neighboring retailers include Cricket Wireless, Stars Drive-In, Lotus, T-Mobile, Sherwin-Williams, FedEx, Domino’s Pizza, SAS Shoes, Burger King, and America’s Best Value Inn & Suites. The area is densely populated with over 178,350 residents within five miles of the property.