Investment Overview

Marcus & Millichap is pleased to offer the opportunity to acquire a 73,316-square-foot, two-tenant retail center located in Waco, Texas. Tenants consist of Sky Zone Trampoline Park and Kart Park Karting. Sky Zone Trampoline Park is a leading indoor trampoline park with over 270 locations nationwide. Kart Park Karting is an entertainment venue offering go karts, games, and food options. Both tenants have signed new 10-year leases on triple-net terms and have renewal options with scheduled rent increases. The building was constructed in 1987 and situated on a large 5.36-acre lot with ample paved parking. Property upgrades include roof replacement in 2017 and new HVAC units in 2021, per Landlord reports. The subject property is located in a dense retail trade area near the signalized intersection of West Waco Drive and Lake Air Drive, and benefits from multiple ingress and egress points from three roadways. Cumulative traffic counts exceed 56,000 vehicles per day. Richland Mall is in close proximity, a 708,249-square-foot regional shopping mall featuring approximately 95 stores and is anchored by JCPenney, Dick’s Sporting Goods, Dillard’s, Tilt Studio, and Shoe Dept. The center is located in a dense retail trade area, neighbored by numerous national and regional retailers, including Ollie’s Bargain Outlet, Olive Garden, BJ’s Restaurant & Brewhouse, The Home Depot, Barnes & Noble, Chuck E. Cheese’s, Academy Sports + Outdoors, Lowe’s Home Improvement, Walmart Supercenter and many more.