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Shopping Factory Outlet

The Shops at Terrell

301 Tanger Dr, Terrell, TX 75160

Listing Price: $22,377,000

Cap Rate
8.82%
Gross SF
177,800
Rentable SF
177,800
Price/Gross SF
$125.85
Lot Size
23.21 acres
Year Built
1994

Investment Overview

The Shops at Terrell is a 177,800-square-foot, retail outlet center located in Terrell, Texas. The center is currently 80 percent occupied, the majority of which are national credit tenants, providing an investor a strong tenant base. Major tenants include Nike, Levi’s, Gap, Old Navy, Reebok, Rue21, Hanesbrands, Maurices, Crocs, Carter's, and Hometown Cinema, among others. The subject property offers significant upside potential in leasing the remaining 36,255 square feet of vacant space. Additionally, most leases have no remaining options for renewal, providing upside in negotiating market rental rates. Originally constructed in 1994, the building sits on a large 23.21-acre parcel with a concrete parking lot. Situated at the crossroads of Interstate 20 and Highway 34, the subject property is strategically located to maximize freeway visibility and access. Interstate 20 is a major thoroughfare carrying traffic to and from East Texas; traffic counts in front of the subject property exceed 61,768 vehicles per day. Pad sites adjacent to The Shops at Terrell include Applebee’s Grill and Bar, Mariachi Mexican Bar and Grill, IHOP, Wendy’s, Golden Chick, Holiday Inn Express, and McDonald’s. Other retailers in the surrounding area include The Home Depot, McCoy's, Waffle House, QuikTrip, Starbucks, Buc-cee’s, Taco Cabana, Sonic, Hobby Lobby, Ross, Marshalls, Academy, Five Below, and others. Employees of the nearby AutoZone, Goodyear Tire & Rubber, and Walmart Distribution Centers provide additional traffic to the area.

Investment Highlights

  • 177,800-Square-Foot Retail Outlet Center Located in the Dallas Suburb of Terrell
  • Terrell is Located in the Fastest-Growing County in the Nation (Kaufman County) | 40.6% Growth Rate in the Last Decade (per the U.S. Census Bureau)
  • Strong Tenant Base Featuring Highly-Rated National and Regional Credit Tenants, Such as Nike, Old Navy, Gap, Famous Footwear, Crocs, Levi's, Reebok, and Many More
  • Currently 80% Occupied | Upside Potential in Leasing Vacant Space and Negotiating Market Rental Rates for Current Tenant Lease Extensions | Pro Forma Cap Rate is 12.98%
  • Highly Visible Freeway Location at the Crossroads of Interstate 20 and Highway 34 | Easily Accessible from Multiple Ingress and Egress Points | Pylon and Billboard Signs Along the Frontage Road Provide Additional Exposure to the Center

Exclusively Listed By

Shopping Factory Outlet

The Shops at Terrell

Listing Price: $22,377,000

Cap Rate
8.82%
Gross SF
177,800
Rentable SF
177,800
Price/Gross SF
$125.85
Lot Size
23.21 acres
Year Built
1994

Investment Highlights

  • 177,800-Square-Foot Retail Outlet Center Located in the Dallas Suburb of Terrell
  • Terrell is Located in the Fastest-Growing County in the Nation (Kaufman County) | 40.6% Growth Rate in the Last Decade (per the U.S. Census Bureau)
  • Strong Tenant Base Featuring Highly-Rated National and Regional Credit Tenants, Such as Nike, Old Navy, Gap, Famous Footwear, Crocs, Levi's, Reebok, and Many More
  • Currently 80% Occupied | Upside Potential in Leasing Vacant Space and Negotiating Market Rental Rates for Current Tenant Lease Extensions | Pro Forma Cap Rate is 12.98%
  • Highly Visible Freeway Location at the Crossroads of Interstate 20 and Highway 34 | Easily Accessible from Multiple Ingress and Egress Points | Pylon and Billboard Signs Along the Frontage Road Provide Additional Exposure to the Center

Investment Overview

The Shops at Terrell is a 177,800-square-foot, retail outlet center located in Terrell, Texas. The center is currently 80 percent occupied, the majority of which are national credit tenants, providing an investor a strong tenant base. Major tenants include Nike, Levi’s, Gap, Old Navy, Reebok, Rue21, Hanesbrands, Maurices, Crocs, Carter's, and Hometown Cinema, among others. The subject property offers significant upside potential in leasing the remaining 36,255 square feet of vacant space. Additionally, most leases have no remaining options for renewal, providing upside in negotiating market rental rates. Originally constructed in 1994, the building sits on a large 23.21-acre parcel with a concrete parking lot. Situated at the crossroads of Interstate 20 and Highway 34, the subject property is strategically located to maximize freeway visibility and access. Interstate 20 is a major thoroughfare carrying traffic to and from East Texas; traffic counts in front of the subject property exceed 61,768 vehicles per day. Pad sites adjacent to The Shops at Terrell include Applebee’s Grill and Bar, Mariachi Mexican Bar and Grill, IHOP, Wendy’s, Golden Chick, Holiday Inn Express, and McDonald’s. Other retailers in the surrounding area include The Home Depot, McCoy's, Waffle House, QuikTrip, Starbucks, Buc-cee’s, Taco Cabana, Sonic, Hobby Lobby, Ross, Marshalls, Academy, Five Below, and others. Employees of the nearby AutoZone, Goodyear Tire & Rubber, and Walmart Distribution Centers provide additional traffic to the area.

Exclusively Listed By

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