Investment Overview

West Killeen Market is a value-add, new construction, multi-tenant shopping center located in Killeen, Texas. Shadow-anchored by H-E-B Grocery, the center is currently 74 percent occupied with a complementary mix of national, regional, and local tenants. Tenants include the Cohen Veterans Network at Endeavors, Jimmy’s Egg, Lone Star Dental, Twin Liquors, Papa John’s Pizza, Cricket Wireless, Great Clips, The Joint Chiropractic, Verizon, and Venetian Nails & Spa. All current leases are triple-net, and many have scheduled rent escalations during the primary term. Built in 2017, West Killeen Market center is comprised of three buildings totaling 44,494 square feet and situated on 5.97 acres. The subject property is located at the signalized intersection of West Stan Schlueter Loop and Old FM 440 Road, directly west of Fort Hood Street/TX-195, the city’s major north-south thoroughfare. In addition to H-E-B, other retailers in the immediate area include Exxon, Taco Bell, McDonald’s, Subway, and Chevron. The subject property is approximately three miles southwest of a dense retail trade area lining East Central Texas Expressway, with national and regional retailers including Walmart Supercenter, H-E-B Plus!, Kohl’s, OfficeMax, Lowe’s, Party City, CATO, Walgreens, CVS, Aaron’s, Hobby Lobby, Dollar Tree, Tractor Supply Co., Academy Sports and Outdoors, PetSmart, ALDI, Spec’s, Ashley HomeStore, The Home Depot, dd’s Discounts, Shoe Carnival, Regal Cinemas, and numerous others. Additionally, Killeen Mall is situated on the north side of East Central Texas Expressway. The regional mall boasts more than 100 stores and is anchored by Dillard’s, JCPenney, Sears, and Burlington Coat Factory.