Investment Overview

Meadowcrest Corners is a value-add, 34,033-square-foot, multi-tenant retail center located in the desirable Fort Worth suburb of North Richland Hills, Texas. The center is currently 76 percent occupied, and all leases are triple-net. Tenants are a complementary mix of national and local retailers, including Wingstop, Supercuts, A-Max Auto Insurance, Subway, Mr. Jim’s Pizza, Samantha Kays Beauty Supply, Thirsty Turtle Grill, La Real Michoacan Ice Cream Shop, and others. The majority of the leases include annual rent increases and renewal options at market rates, providing significant upside potential. Originally constructed in 1983, the building is situated on a large 2.58-acre parcel with ample paved parking. Seller reports many recent property improvements, including a new roof installed in 2020, new fire system installed in 2022, entire exterior painting completed in 2019, and several new HVAC units. The subject property is well positioned at the hard corner of Rufe Snow Drive and Meadow Crest Drive, in close proximity to a dense retail trade area along Rufe Snow Drive and Texas Highway 121/Loop 820. The property is easily accessible from multiple ingress and egress points, and benefits from high traffic counts of approximately 39,226 vehicles per day. A new Popeyes chicken restaurant is currently under construction on the corner pad site (not a part of the offering). Numerous national and regional retailers are in the neighboring area, including Walmart, Sam’s Club, The Home Depot, Burlington, WinCo Foods, Floor & Décor, Sonic, Dutch Bros Coffee, Chiptole Mexican Grill, McDonald’s, Chick-fil-A, and many more. The surrounding area has strong demographics; the five-mile population is 293,491 residents, and the average household income exceeds $95,470 within a five-mile radius.