West Killeen Market is a value-add, new construction, multi-tenant shopping center located in Killeen, Texas. Shadow-anchored by H-E-B Grocery, the center is currently 74 percent occupied with a complementary mix of national, regional, and local tenants. Tenants include the Cohen Veterans Network at Endeavors, Jimmy’s Egg, Lone Star Dental, Twin Liquors, Papa John’s Pizza, Cricket Wireless, Great Clips, The Joint Chiropractic, Verizon, and Venetian Nails & Spa. All current leases are triple-net, and many have scheduled rent escalations during the primary term. Built in 2017, West Killeen Market center is comprised of three buildings totaling 44,494 square feet and situated on 5.97 acres.
The subject property is located at the signalized intersection of West Stan Schlueter Loop and Old FM 440 Road, directly west of Fort Hood Street/TX-195, the city’s major north-south thoroughfare. In addition to H-E-B, other retailers in the immediate area include Exxon, Taco Bell, McDonald’s, Subway, and Chevron. The subject property is approximately three miles southwest of a dense retail trade area lining East Central Texas Expressway, with national and regional retailers including Walmart Supercenter, H-E-B Plus!, Kohl’s, OfficeMax, Lowe’s, Party City, CATO, Walgreens, CVS, Aaron’s, Hobby Lobby, Dollar Tree, Tractor Supply Co., Academy Sports and Outdoors, PetSmart, ALDI, Spec’s, Ashley HomeStore, The Home Depot, dd’s Discounts, Shoe Carnival, Regal Cinemas, and numerous others. Additionally, Killeen Mall is situated on the north side of East Central Texas Expressway. The regional mall boosts more than 100 stores and is anchored by Dillard’s, JCPenney, Sears, and Burlington Coat Factory.
- H-E-B Grocery Shadow-Anchored Shopping Center | H-E-B Drives 2.3+ Million Visits Annually (Source: Placer.ai)
- New 2017 Construction | Comprised of Three Buildings Totaling 44,494 Square Feet
- Value-Add Opportunity | 74% Occupied | Significant Upside Potential in Leasing Vacant Suites | Pro Forma Cap Rate is 10.47%
- All Current Leases are Triple-Net | Strong Tenant Base Featuring a Complementary Mix of National, Local, and Government Tenants
- Well Positioned at the Signalized Intersection of West Stan Schlueter Loop and Old Farm to Market 440, Just West of Fort Hood Street/TX-195
- Cumulative Traffic Counts are Approximately 39,780 Vehicles per Day
- Located in a Dense Residential Area | Population Exceeds 132,900 Residents Within Five Miles
- Less than Three Miles West of a Major Retail Corridor Lining the East Central Texas Expressway | Numerous National and Regional Tenants, Including Walmart, H-E-B Plus!, Lowe’s, Hobby Lobby, Kohl’s, The Home Depot, and Killeen Mall (Anchored by Dillard’s, JCPenney, Sears, and Burlington)
- Nearby Fort Cavazos is the Largest Active-Duty Armored Post in the Nation | Contributed $39 Billion to the Texas Economy in 2023 per the State Comptroller’s Office | Population Includes 34,375 Active-Duty Military and 13,153 Civilians and Contractors
- Killeen is the Principal City of The Killeen-Temple-Fort Cavazos MSA | Located 55 Miles North of Austin, 125 Miles Southwest of Dallas and 125 Northeast of San Antonio
