Investment Overview

Eastgate Plaza is a 112,923-square-foot, multi-tenant, community center located in the northeast Waco suburb of Bellmead, Texas. Eastgate Plaza is currently 82 percent occupied, and 57 percent of the gross leasable area has triple-net leases. Anchored by Citi Trends, Dollar Tree, and Crazy Hot Deals, tenants are a complementary mix of credit and local retailers including O'Reilly's Auto Parts, Buddy's Home Furnishing, Direct Auto Insurance, Fusion Dental, Cricket Wireless, Faith's Beauty, Smoke Shop, Stoney's Liquor, Family Dollar, Vapor Maven, Nails 2000, and a Laundromat. Constructed in 1965 then renovated in 2007, the center sits on a large 7.06-acre parcel with ample paved parking. A large double-sided monument site positioned at the property entrance provides additional exposure to the center. Landlord reports recent property upgrades that include parking lot sealing and restriping, repainting of the entire building exterior, roof coating, and new HVAC units for Dollar Tree and Crazy Hot Deals. Additionally, the offering includes a 0.72-acre pad site for future development opportunities. The subject property is strategically located off Bellmead Drive near the intersection with Interstate 35. The center benefits from multiple ingress and egress points from all surrounding roadways. Eastgate Plaza is shadow-anchored by a high-volume H-E-B grocery store, ranking in the top 70th percentile based on annual visitors to all H-E-B grocery stores in the state of Texas. Eastgate Plaza is also in close proximity to multiple hotels such as WoodSpring Suites Waco, Comfort Suites, Viking Inn, Delta Inn, Best Western Plus, Quality Inn & Suites, among others providing additional traffic to the area.