Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a 40,726-square-foot, multi-tenant retail center that is located in a dense retail trade corridor of Killeen, Texas. The tenant base is a complementary mix of internet-resistant, service-oriented businesses, including Tactical Rehabilitation, University of Maryland, Coldwell Banker, & Nailcure. All of the 11 stores are on triple-net leases, and a majority are national tenants. There are 17 2-bedroom, one 1-bedroom, and one 3-bedroom apartment suites on the second level above the retail stores. The center was constructed in 2015 and is situated on 2.66 acres with ample paved parking on all four sides. A large double-sided monument sign is positioned at the front entrance. The subject property is located on Clear Creek Road with excellent visibility. The Village at Clear Creek is accessible from multiple ingress and egress points and benefits from high traffic counts off of Interstate 14 with over 96,303 vehicles per day. The center is shadow- anchored by Walmart Neighborhood Market, and numerous other national and regional retailers are in the surrounding area, including Family Dollar, McDonald's, AutoZone, Burger King, Starbucks, and Jersey Mike's. The Village at Clear Creek is located across from AdventHealth Medical Center. The hospital employs over 1,200 people and is part of the 10th-largest hospital system in the country. New developments in the area include Anthem Park, a 203-acre, mixed-use area just eight miles from the subject property. It will feature retail and entertainment, residential areas, and offices spaces. Located in the Temple-Killeen metro, Killeen is the largest city in the metro with nearly 160,000 residents. The metro encompasses Bell, Lampasas and Coryell counties and is projected to grow at a rate more than four times the national average, adding roughly 24,000 new residents over the next five years. Fort Hood is one of the nation's most notable military bases and is located less than a mile away from the subject property. It is the third-largest military base in the world with around 36,000 active duty military personnel currently stationed there. Fort Hood provides an annual $25 billion economic impact on the regional economy. Military personnel make up a large portion of the population in the metro, and are the reason for the median age being well below the national average. Killeen is approximately 60 miles north of Austin.