Investment Overview

Olde Towne Shoppes is a 26,110-square-foot, newly remodeled multi-tenant retail center located in the western portion of the Dallas-Fort Worth Metroplex in Weatherford, one of the fastest-growing cities in Texas. The center is currently 100 percent leased, and all leases are triple-net. Current average rental rates are 21.2 percent below market, lending to future upside potential. Tenants are a complementary mix of internet-resistant, service-oriented businesses and include Great Harvest Bread Co., Bandi Lou's Steakhouse, Joe's Pasta-N-Pizza, Glamour Paws, Renegade Ranch Boutique, Bachman Realty Group, CompuDoc Computer Services, Rock Bottom Liquidations, Haynes Physical Therapy, and Legacy Hair Salon. Joe's Pasta-N-Pizza is an original tenant in the center for over 20 years, and several tenants have recently exercised early lease extensions, demonstrating their commitment to this location. The Weighted Average Lease Term is 6.0 years. Constructed in 2003, the building sits on 2.42 acres with ample concrete parking. The property was significantly remodeled in 2022 and 2023 including expanding the parking lot to include 18 new paved parking spaces, adding a covered patio area and entryway staircase to the Great Harvest Bread Co. end cap suite, constructing a new exterior façade wall, addition of a five-foot sculpture of a boot in the parking lot, multiple areas with significant landscaping upgrades, and installing hanging tenant signs in the walkway. A double-sided monument sign at the property entrance provides additional exposure.