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Miscellaneous

Boot Barn & Kirkland's | Two Tenant Retail

4113 Gibson Ln, Texarkana, TX 75503

Listing Price: $3,734,693

Cap Rate
7.33%
Tenant Name
Boot Barn
Years Remaining On Lease
4.5
Guarantor
Corporate Guarantee
Rentable SF
23,000
Lease Type
Double Net
Rent Per Square Feet
$12.58

Investment Overview

Marcus & Millichap is pleased to present a two tenant retail building featuring Boot Barn and Kirkland’s department stores, located on Gibson Lane in Texarkana, TX . Both leases in places are double-net (NN) in structure with limited landlord responsibilities. Boot Barn has over four and a half years remaining in the original lease term with three, five-year option periods to extend the lease featuring scheduled rent increases. Kirkland’s nearly two and a half years remaining in the original lease term with two, five-year option periods to extend the lease featuring scheduled rent increases. The subject property was built in 2011 and encompasses 23,500 square feet of gross leasable area. The property is situated on a 3.012-acre lot and is easily accessible to the over 82,445 vehicles which pass by the site per day. The immediate area surrounding the Boot Barn | Kirkland’s property benefits from extraordinarily high traffic counts. The subject property is located right off US HWY 59 and I-30, which is traveled by more than 82,445 vehicles per day. Less than a mile from the subject Boot Barn | Kirkland’s is the future site of the new Wadley Regional Medical Center. The new nearly 400,000 SF, $227 million-facility will be the city of Texarkana’s largest commercial development project in its history. The groundbreaking commenced in September 2021 with the Center scheduled to open in May 2024. It will feature a medical office building and a full range of hospital services, including a 24/7 emergency room, orthopedics, cardiovascular area, neurosurgery, maternity care and a number of outpatient services. The hospital will have an impact of over $400 million in total contribution to the local economy through contribution to local business, employment, and local taxes. Boot Barn | Kirkland’s is centrally located in a primary retail corridor with surrounding national retailers that include Home Depot, Bed Bath & Beyond, Target, Best Buy, Taco Bell, Ross, Chick-fil-A, Starbucks, and many, many more national and regional tenants.

Investment Highlights

  • Boot Barn – Over 4.5 Years Remaining on the Lease – 3, 5-Year Options with Increases
  • Kirkland's – Nearly 2.5 Years Remaining on the Lease – 2, 5-Year Options with Increases
  • Double-Net (NN) Lease Structures – Limited Landlord Responsibilities
  • Favorable Co-Tenant Synergies Drive Traffic and Increase Store Performance
  • Nearby Retailers – Home Depot, Target, Bed Bath & Beyond, Kohl's, Texas Roadhouse and more
  • Adjacent to New 400,000SF $227M Medical Center Development
  • Over ±82,445 Vehicles per Day on Nearby on US HWY 59 and I-30
  • Large 3.012 Acre Lot – 23,500 SF Building – Located in Primary Retail Corridor

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Miscellaneous

Boot Barn & Kirkland's | Two Tenant Retail

Listing Price: $3,734,693

Cap Rate
7.33%
Tenant Name
Boot Barn
Years Remaining On Lease
4.5
Guarantor
Corporate Guarantee
Rentable SF
23,000
Lease Type
Double Net
Rent Per Square Feet
$12.58

Investment Highlights

  • Boot Barn – Over 4.5 Years Remaining on the Lease – 3, 5-Year Options with Increases
  • Kirkland's – Nearly 2.5 Years Remaining on the Lease – 2, 5-Year Options with Increases
  • Double-Net (NN) Lease Structures – Limited Landlord Responsibilities
  • Favorable Co-Tenant Synergies Drive Traffic and Increase Store Performance
  • Nearby Retailers – Home Depot, Target, Bed Bath & Beyond, Kohl's, Texas Roadhouse and more
  • Adjacent to New 400,000SF $227M Medical Center Development
  • Over ±82,445 Vehicles per Day on Nearby on US HWY 59 and I-30
  • Large 3.012 Acre Lot – 23,500 SF Building – Located in Primary Retail Corridor

Investment Overview

Marcus & Millichap is pleased to present a two tenant retail building featuring Boot Barn and Kirkland’s department stores, located on Gibson Lane in Texarkana, TX . Both leases in places are double-net (NN) in structure with limited landlord responsibilities. Boot Barn has over four and a half years remaining in the original lease term with three, five-year option periods to extend the lease featuring scheduled rent increases. Kirkland’s nearly two and a half years remaining in the original lease term with two, five-year option periods to extend the lease featuring scheduled rent increases. The subject property was built in 2011 and encompasses 23,500 square feet of gross leasable area. The property is situated on a 3.012-acre lot and is easily accessible to the over 82,445 vehicles which pass by the site per day. The immediate area surrounding the Boot Barn | Kirkland’s property benefits from extraordinarily high traffic counts. The subject property is located right off US HWY 59 and I-30, which is traveled by more than 82,445 vehicles per day. Less than a mile from the subject Boot Barn | Kirkland’s is the future site of the new Wadley Regional Medical Center. The new nearly 400,000 SF, $227 million-facility will be the city of Texarkana’s largest commercial development project in its history. The groundbreaking commenced in September 2021 with the Center scheduled to open in May 2024. It will feature a medical office building and a full range of hospital services, including a 24/7 emergency room, orthopedics, cardiovascular area, neurosurgery, maternity care and a number of outpatient services. The hospital will have an impact of over $400 million in total contribution to the local economy through contribution to local business, employment, and local taxes. Boot Barn | Kirkland’s is centrally located in a primary retail corridor with surrounding national retailers that include Home Depot, Bed Bath & Beyond, Target, Best Buy, Taco Bell, Ross, Chick-fil-A, Starbucks, and many, many more national and regional tenants.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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