CLICK TO VIEW RICHARDSON EAST SHOPPING CENTER OFFERING MEMORANDUM
Richardson East Shopping Center is a 90,671-square-foot, multi-tenant neighborhood retail center located in a densely populated area of Richardson, Texas. The center is currently 100 percent occupied with a mix of long-term triple-net and gross leases, and ground leases with KFC, Taco Bell, Pizza Hut, Long John Silver, Danang Souphouse, and Meteor Hamburgers. Tenants are in line with Dollar Tree (not a part), featuring a complementary mix of national and local retailers and businesses, including Harbor Freight, Saigon Noodle, Sherwin-Williams, Furniture Expo, Baskin-Robbins and more. The subject property is situated on seven land parcels totaling 12.17 acres with ample paved parking. Seller has recently resurfaced the large 7.9-acre parcel’s parking lot in front of and behind the multi-tenant retail building.
- 100% Occupied Neighborhood Center, Well Positioned to Serve an Affluent and Densely Populated Area
- Property Consists of a 66,132-Square-Foot, Multi-Tenant Shopping Center and Ground Leases with KFC, Taco Bell, Pizza Hut, Long John Silver, Danang Souphouse, and Meteor Hamburgers
- 74% of the Shopping Center GLA has Triple-Net or Modified Gross Leases | Currently 54% of the Shopping Center GLA is Paying Reimbursements | Potential to Heavily Improve Future Reimbursement Income
- Long-Term Leases In Place | Long John Silver’s (47 Years), Sherwin-Williams (31 Years), Harbor Freight (24 Years), Exxon Fast Lube (22+Years), and Chase Place (22+ Years)
- In Line with Dollar Tree (Not a Part)
- Current Average Rents are Below Market
- Priced at $164 per Square Foot
- Seller Recently Resurfaced the Main Parking Lot Surrounding the Multi-Tenant Building
- Located on the Signalized, Hard Corner of Belt Line Road and South Yale Boulevard | Cumulative Traffic Counts are Approximately 38,500 Vehicles per Day
- Dense Retail Trade Area | Close Proximity to Lowe’s, Target, Ross Dress for Less, Shoe Carnival, Burlington, Staples, Fun Movie Grill, and Many Others
- Surrounding Area has Desirable Demographics | The Average Household Income is $97,876 within a One-Mile Radius; $80,308 within a Three-Mile Radius; and $86,975 within a Five-Mile Radius | Densely Populated with more than 376,610 Residents Located within a Five-Mile Radius
- Richardson is Located in the Telecom Corridor, Accounting for 82,600 Jobs | Major Employers Include AT&T, Verizon, Samsung, Texas Instruments, Metro PCS, Cisco Systems, and Fujitsu
- The City is also home to the Corporate Headquarters for Blue Cross Blue Shield of Texas and has Regional Hubs for State Farm Insurance, GEICO, and United Healthcare
