Institutional Property Advisors is pleased to present this 107,689-square-foot community retail center located in El Paso, Texas. The property is 100 percent occupied by a strong mix of four national credit tenants. The tenant base operates on triple-net (NNN) leases, providing passive ownership with minimal landlord responsibilities. The investment is defined by its secure and durable income stream, anchored by Hobby Lobby, which occupies over 51 percent of the gross leasable area on a long-term lease through March 2031. This stability is complemented by co-tenants Ross Dress For Less and Aaron’s, with leases extending to 2031 and 2033, respectively, all featuring scheduled rental escalations and renewal options. The offering includes a 7,350-square-foot, separately parceled pad site leased to Mattress Firm. The property is strategically positioned in a dense retail trade area with a prime interstate location, benefiting from extremely high traffic counts. Its excellent visibility and easy access from multiple entry points ensure a consistent flow of customers, reinforcing the center’s appeal to its national tenant base and supporting its long-term competitive advantage in the market.
- PRICING & YIELD: Offered at $19,742,000, reflecting a 7.50% capitalization rate on current net operating income
- SECURE, LONG-TERM INCOME: 100% leased to four tenants with staggered expirations from 2029 to 2033, featuring built-in annual escalations and extension options to further de-risk cash flow
- PRIME RETAIL CORRIDOR: Situated on Interstate 10 with extremely high traffic counts of 162,012 vehicles per day, the property benefits from high visibility and walk-by traffic
- BEST-IN-CLASS ACCESSIBILITY: With easy access to major highways and close proximity to the United States – Mexico Border, the shopping center is strategically located in an international metropolitan area serving a region of 2.7 million people making up the largest bilingual and binational workforce in the Western Hemisphere
- PROXIMITY TO AIRPORT: Four miles to El Paso International, enhancing appeal to both local and corporate occupiers
- SURROUNDING CO-TENANCY: Approximately 1.5 miles from Cielo Vista Mall (anchored by Macy’s, JCPenney, Dillard’s, and Sears), numerous national and credit brands in close proximity include Walmart, Sam’s Club, Sprouts, TJ Maxx, HomeGoods, Best Buy, Barnes & Noble, and many more
