Investment Overview

The subject property is a 9,636-square-foot, two-tenant retail center located in Mansfield, Texas. The center is 100 percent occupied with triple-net leases, and both tenants have renewal options. The tenant base consists of internet-resistant businesses including a top-ranking Jason's Deli and Centrum Health. Jason's Deli ranks in the 91st percentile in the state of Texas and 94th percentile in the nation, based on annual visitors to all Jason's Deli locations. The lease with Centrum Health includes 3 percent annual rent escalations. The building was constructed in 2003 and features a drive-through window in the Jason's Deli suite. A double-sided monument sign faces U.S. Highway 287, offering additional exposure to the center. The subject property is located in a dense retail trade area off U.S. Highway 287, just south of the signalized intersection at East Debbie Lane. Cumulative traffic counts are approximately 98,157 vehicles per day. Numerous national and regional retailers are in the neighboring area, including Target, Home Depot, Half Priced Books, PetSmart, Painted Tree Boutiques, Famous Footwear, Ross Dress for Less, Chili's Grill & Bar, RaceTrac, Buffalo Wild Wings, Cotton Patch Cafe, Spring Creek Barbeque, Lowe's Home Improvement, Sam's Club, Marshalls, HomeGoods, Best Buy, Petco, Dollar Tree, ULTA Beauty, Cinemark, Olive Garden, Applebee's Grill + Bar, 24 Hour Fitness, Texas Health Breeze Urgent Care, and many more. The surrounding area benefits from excellent demographics, serving a population of more than 184,702 residents within a five-mile radius. The average household income is $106,326 within one mile; $119,048 within three miles; and $115,578 within five miles.