Marcus & Millichap is pleased to offer the opportunity to acquire a 31,781-square-foot, multi-tenant retail center located in McAllen, Texas. Trenton Crossing is currently 100 percent occupied, and all leases are triple-net. The center is anchored by Old Navy; other tenants include Shoe Carnival and South Texas Health Systems Clinics. Old Navy (NYSE: GPS) and Shoe Carnival (NSADAQ: SCVL) are publicly-traded companies and occupy 80 percent of the gross leasable area. South Texas Health System Clinics is a new lease and has expanded their current space to add 1,531 square feet of leasable area. The center was constructed in 2006 and is situated on a 4.84-acre parcel.
The subject property is located on North 10th Street at the signalized intersection of North 10th Street and Wisconsin Road. Traffic counts in front of the property exceed 19,800 vehicles per day. Trenton Crossing is in line with a top performing Kohl’s and surrounded by numerous national retailers including Hobby Lobby, Sam’s Club, Marshalls, PetSmart, Dollar Tree, Rue21, Target, H-E-B Grocery, The Home Depot, Olive Garden, Chipotle, Chick-fil-A, and many more. The surrounding area has strong demographics with a five-mile population of approximately 233,250.
- 31,871-Square-Foot, Multi-Tenant Retail Center
- In-Line with Kohl’s | Top Performing Kohl’s Store Within 50 Miles (Per Placer.ai)
- Part of a Power Center Featuring Target, Kohl’s, Hobby Lobby, Dollar Tree, Marshalls, and PetSmart
- 100% Occupied | All Leases are Triple-Net
- Current Average Rents are Below Market
- Old Navy (NYSE: GPS) and Shoe Carnival (NSADAQ: SCVL) are Publicly-Traded Companies
- New Lease with South Texas Health Systems Clinics, Which is Owned and Operated by a Subsidiary of Universal Health Services, Inc. (UHS), One of the Nation’s Largest Healthcare Management Companies | Tenant Currently Expanding the Gross Leasable Area to Include an Additional 1,531 Square Feet
- Situated on North 10th Street Near the Signalized Intersection with Wisconsin Road | Traffic Counts are Approximately 19,800 Vehicles per Day in Front of the Property
- Located in a Major Retail Trade Corridor | Near Numerous National and Regional Retailers Including H-E-B Grocery, The Home Depot, Sam’s Club, Best Buy, Conn’s HomePlus, and Many More
- Densely Populated Area with More than 233,250 Residents Within a Five-Mile Radius
- Located in the McAllen-Edinburg-Mission MSA | Retail Hub of the Rio Grande Valley
- Also Part of the Reynosa-McAllen Metropolitan Area, Serving a Population of Roughly 1.5 Million