Westchester Parkway Retail

Price: $2,512,500
Sq. Ft.: 9,200
Cap Rate: 7.01%
Built: 2001
NNN, Gross

The subject property is a 9,200-square foot multi-tenant retail center in Grand Prairie, Texas.  The center is currently 100 percent occupied, with 86 percent of the gross leasable area having triple-net leases.  Tenants consist of Pizzaiolo’s Pizza & Pasta, Peachberry, Dr. Kodali (Carrier Family Dental), Chopsticks, Nail Concepts, and Krystal Cleaners. The building was constructed in 2001 and sits on a one-acre parcel.

The subject property is located just south of Interstate 20 on Westchester Parkway at the intersection of Carrier Parkway.  Cumulative traffic counts are approximately 35,000-vehicles per day.  The center is shadow anchored by Tom Thumb grocery store, including a gas station pad site, and a CVS pad site.  The former United Artists Theater across from the subject property is currently being redeveloped into a 60,000-square foot retail center featuring Starbucks, R Taco, Panera Bread, a national grocer, and other retailers.