Marcus & Millichap is pleased to present the opportunity for an investor to acquire a fully stabilized, 32,770-square-foot, multi-tenant Class A retail center located in a highly coveted area of Frisco, Texas. Teel Crossing East is comprised of internet-resistant, service-oriented tenants including Hurts Donut Co., One River Art & Design, Frisco Audio & Tint, Frisco Sushi 469, Marco’s Pizza, Mathnasium, The Coders School, Maple Street Biscuit, Chiloso, Nekter Juice Bar, 888 Cookhouse, Bishops, BeBalanced Weight Loss Center, and Chiller Bee. All leases are triple-net, leaving limited Landlord responsibilities. The offering consists of two multi-tenant buildings that are newer construction; Phase I building was completed in 2016, and Phase II building was completed in 2019. The buildings are situated on a large 5.84-acre parcel with ample paved parking.
Teel Crossing East is located in the northeast quadrant of the intersection of Main Street and Teel Parkway. The center is easily accessible with multiple ingress and egress points from both roads. Cumulative traffic counts exceed 41,620 vehicles per day. The property is strategically located in a dense residential area and near numerous national retailers including Kroger, Starbucks Coffee, McDonalds, Chase Bank, Walgreens, Fuzzy’s Taco Shop, Walmart, The YMCA, CVS Pharmacy, Orangetheory Fitness, LA Fitness, and many others. H-E-B Grocery recently announced the much anticipated expansion of the brand into the Dallas-Fort Worth metroplex with one of the selected locations located less than one mile east of Teel Crossing East. The store will be located in the northeast corner of Legacy Drive and Main Street, with a projected opening date in the fall of 2022. Teel Crossing is near many schools, providing additional traffic to the area. The center benefits from excellent demographics with more than 237,788 residents within five miles of the property and a household income of $188,742 within one mile of the property.
- 100% Occupied, Class A Shopping Center | All Leases are Triple-Net
- Tenants are a Complementary Mix of Internet-Resistant, Service-Oriented Businesses and Restaurants | Includes a Wells Fargo Drive-Thru ATM
- Majority of the Leases have Annual Rent Escalations, Providing a Steady Year-Over-Year Increase to the Income Stream | All Leases have Renewal Options
- Current Average Rental Rates are Below Market
- Property Consists of Two Multi-Tenant Retail Buildings Totaling 32,770 Square Feet Situated on a Large 5.84-Acre Lot | Ample Paved Parking Spaces
- Buildings are Newer (2016 & 2019) Construction with an Attractive Façade and Landscaping | Stucco and Decorative Stone Veneer with Metal Awnings | Gazebo Located Between the Two Buildings with Irrigated Greenspace
- Located in the Northeast Quadrant of the Intersection of Main Street and Teel Parkway | Property is Easily Accessible from Multiple Ingress and Egress Points | Cumulative Traffic Counts Exceed 41,620 Vehicles Per Day
- Prime Location in a Densely Populated Area with Excellent Demographics | The Five-Mile Population is Approximately 237,788 Residents | Average Household Income is $188,472 Within a One-Mile Radius; $159,687 Within a Three-Mile Radius | $139,700 Within a Five-Mile Radius
- H-E-B Grocery Recently Announced Plans to Break Ground on a New Location at the Northeast Corner of Legacy Drive and Main Street Less Than One Mile East of Teel Crossing