Marcus & Millichap is pleased to offer the opportunity to acquire a fully-stabilized multi-tenant retail center in a highly desirable retail trade area in Lewisville, Texas. The 15,226-square foot center is 100 percent occupied with a complementary tenant base consisting of Farmer’s Insurance, Asian Premiere Massage, Adecco, Stride Rite, Heaven Sent Boutique, Elite Fitness, and iHealth Diagnostics. All leases have personal guarantees, a five-year renewal option, and are triple-net. Constructed in 2008, the building is situated on 1.88 acres with ample paved parking.
The subject property is an out parcel to Music City Mall in a high traffic area at the intersection of I-35 East and Highway 121 (Sam Rayburn Tollway). Traffic counts in front of the property on MacArthur Boulevard are approximately 23,140 vehicles per day, while I-35 has 152,800 vehicles per day and 114,000 vehicles per day on Highway 121. The property is surrounded by dense retail. Music City Mall is anchored by Dillard’s, Sears, JCPenney, Macy’s, and Cinemark and has over 130 retail shops. Other national and regional retailers in the area include HobbyTown USA, Pier 1 Imports, Haverty’s, BBVA, LA Fitness, Romano’s Macaroni Grill, Costco, Guitar Center, Best Buy, Starbucks, BJ’s Restaurant and Brewhouse, Buffalo Wild Wings, Target, At Home, Academy Sports, Conn’s HomePlus, Olive Garden, Marshalls, Hobby Lobby, Michaels, OfficeMax, Barnes & Noble, Dollar Tree, and numerous others. The area has strong demographics, with a five-mile population of 82,031 residents and an average household income exceeding $98,400.
Lewisville is an urban community of over 100,000 people conveniently located in the Dallas-Fort Worth metroplex, only 10 minutes from Dallas-Fort Worth International Airport and bisected by I-35 East and Highway 121. With more than three million square feet of office/industrial space and more new development in the pipeline, Lewisville provides a variety of location options for businesses. Visitors and residents enjoy a variety of recreation and shopping opportunities including a 2000-plus acre nature preserve, a historic downtown, Lewisville Lake and Music City Mall. Lewisville continues to benefit from one of the lowest combined property tax rates in DFW, making Lewisville an attractive location for business and residents.
- Multi-Tenant Shopping Center in Prime Retail Corridor in Lewisville
- 100% Occupied with a Complementary Mix of Tenants
- 100% of the Leases are Triple-Net
- All Leases have Personal Guarantees and One Five-Year Option for Renewal
- Building is 2008 Construction and has a Large Concrete Parking Lot
- Out Parcel to Music City Mall | Anchored by Dillard’s, JCPenney, Macy’s, Sears, and Cinemark
- Located in the Western Quadrant of the I-35 East and Highway 121 Intersection
- 23,140 Vehicles per Day on MacArthur Boulevard
- Hundreds of National and Regional Retailers in the Surrounding Area
- Strong Demographics | Five-Mile Population is 82,031 Residents | Average Household Income Exceeds $98,400