Trail Lake Plaza is a value-add, 32,684-square-foot, multi-tenant retail center located in Fort Worth, Texas. The center is currently 94 percent occupied, and 62 percent of the gross leasable area has triple-net leases providing significant upside potential to an investor. Anchored by a top-performing Family Dollar, tenants are a complementary mix of internet-resistant and service-oriented businesses, including Yarrow Salon & Barber, Ortega-Dalke Insurance, Rosie’s Pet Boutique, EK Nail Salon, Today’s Balloons, Styles of India Salon, Subway, JWJ Computers, 160 Driving Academy, Sherwin-Williams, Southern Formals/Tuxedo Outlets, and Patsy Glenn CPA. The building is positioned on a 2.79-acre parcel with ample paved parking along and a double-sided monument sign providing additional exposure to the center.
Trail Lake Plaza is located on Trail Lake Drive, near the intersection with Interstate 20. Traffic counts in front of the property exceed 19,481 vehicles per day. Neighboring national and regional retailers include Armstrong McCall Beauty Supply, Harbor Freight, Planet Fitness, O’Reilly Auto Parts, Wendy’s, Sonic Drive-In, Raising Cane’s, ALDI, Buffalo Wild Wings, Half Price Books, Floor & Décor, Total Wine & More, Hobby Lobby, Jersey Mike’s, Ross Dress for Less, and many more. Hulen Mall is less than two miles west of the subject property, featuring more than 127 specialty shops and stores and is anchored by Macy’s and Dillard’s. The property is well positioned to serve a dense residential area with a population exceeding 297,028 residents within a five-mile radius, and an average household income within a one-mile radius of $93,493; $84,210 within a three-mile radius; and $88,539 within a five-mile radius.
- 32,684-Square-Foot, Multi-Tenant, Neighborhood Retail Center
- 94% Occupied | 62% of the Gross Leasable Area has Triple-Net Leases
- Current Average Rents are Well Below Market
- Potential Upside in Leasing the Vacant Space and Converting all Leases to Triple-Net | Only 55% of the Existing GLA has Leases with Remaining Options
- Anchored by Top Performing Family Dollar | Family Dollar at this Location is Ranked in the Top 86th Percentile in Texas and 88th Percentile Nationwide, Compared to Other Locations Based on Traffic (source: Placer Labs)
- Complementary Mix of Internet-Resistant, Service-Oriented Tenants
- Priced at $121 Per Square Foot | Well Below Replacement Cost
- Landlord Reports Property Improvements Including Exterior Renovations (Resurfacing Stucco, Exterior Painting, and New Awnings), Replaced 2,496 Square Feet of Concrete in Back Alley (all Completed in 2020), and Partial Roof Overlay (2018)
- Located Near the Signalized Intersection of Trail Lake Drive and Interstate 20 | Traffic Counts in Front of the Property on Trail Lake Drive Exceed 19,481 Vehicles per Day
- Less than Two Miles from Hulen Mall | 127+ Specialty Shops and Anchored by Macy’s and Dillard’s | Other Major Traffic Drivers in the Area Include Harbor Freight, Planet Fitness, O’Reilly Auto Parts, ALDI, Hobby Lobby, Ross Dress for Less and More
- Well Positioned to Serve a Densely Populated Area of Fort Worth | One-Mile Average Household Income is $93,493 | Three-Mile Average Household Income is $84,210 | Five-Mile Average Household Income is $88,539 | Population Exceeds 297,028 Residents Within Five Miles
