The subject property is a 21,930-square foot freestanding Tractor Supply Co. building that is currently under construction, situated on 3.94 acres in Cross Roads, Texas (Denton). The brand new double net lease has 15 years on the primary term with four, five-year options for renewal. Five percent rent escalations are scheduled every five years including during the option periods. The lease has a corporate guarantee from a publicly traded company (NASDAQ: TSCO).
The subject property is located on Highway 377 approximately one and a half miles north of Highway 380, near the northern point of Lewisville Lake. Traffic counts are 7,300 vehicles per day in front of the property. Valero Corner Market is across the highway; other national and regional retailers are south of the property on Highway 380, including Walmart Supercenter, Starbucks, Whataburger, MetroPCS, Mattress Firm, Sally Beauty Supply, Fuzzy’s Taco Shop, Schlotzskys, Wingstop, SportsClips, GNC, AT&T, Chick-fil-a, Caliber Collision, Sonic, Jack in the Box, Palio’s Pizza, McDonalds, CVS, Villa Grande, AutoZone, 7-Eleven, and others. The surrounding area is highly affluent with a one-mile average household income of $109,500, and over 38,300 residents are within five miles of the property.
Cross Roads is a town in the northeast section of Denton County, benefitting from its close proximity to Lake Lewisville, Lake Ray Roberts, Denton, Dallas, and Fort Worth. The area is experiencing significant growth and is establishing commercial corridors along U.S. Highways 380 and 377 with an influx of national retailers such as Walmart and CVS. The Town is a warm and friendly place to build your dream home on one acre lots with no Town property tax.
• 21,930-Square Foot Freestanding Tractor Supply Co. | 2017 Construction
• Brand New 15-Year, Double Net Lease | Minimal Landlord Responsibilities
• Lease has a Corporate Guarantee from a Publicly Traded Company (NASDAQ: TSCO)
• 5% Rent Escalations Scheduled Every Five Years
• Tenant has Four, Five-Year Options for Renewal
• Located on Highway 377 Near Highway 380 | Area Experiencing Significant Growth
• Highly Affluent Surrounding Area | One Mile Average Household Income Exceeds $109,500
• Country Atmosphere with One-Acre Net Minimum Lot Size for Residential Development with No Town Property Tax | Over 18,000 Potential Future Single-Family Homesites
• Significant Upgrades to Building Aesthetics to Comply with the Town’s “Texas Country” Architectural Standards for Commercial Development
• Prime Location for Tractor Supply Co. with Numerous Horse Training and Boarding Facilities nearby