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Shopping Strip

La Cima Crossing

1281 E University Dr, Prosper, TX 75078

Listing Price: $6,750,000

Cap Rate
5.79%
Gross SF
12,369
Rentable SF
12,369
Price/Gross SF
$545.72
Lot Size
2.23 acres
Year Built
2019

Investment Overview

La Cima Crossing is a fully stabilized, 12,369-square-foot, multi-tenant retail center located in a fast-growing area of Prosper, Texas. The center is 100 percent occupied, and all leases are triple-net and include annual rent escalations. Tenants consist of Sweat Project, Foley Pools, and Jerry’s Liquor, and all leases include personal guarantees. The building is new construction completed in 2019 with attractive architecture and is situated on a 2.23-acre lot with concrete parking in the front and back of the building. La Cima Crossing is situated on the north side of East University Drive/US Highway 380, the major east/west thoroughfare in the city. Traffic counts are approximately 40,740 vehicles per day. The subject property is located east of a prime retail trade area at the intersection of University Drive and South Preston Road, with numerous national and regional retailers including Walmart Supercenter, Burlington, Dick's Sporting Goods, TJ Maxx, Ross Dress for Less, Old Navy, Ulta Beauty, Five Below, Famous Footwear, Kirkland's, PetSmart, DSW, Kohl's, Michaels, HomeGoods, Hobby Lobby, and others. Other significant traffic drivers to the area include several school campuses, an Amazon distribution center, and the center's close proximity to the future PGA Headquarters that is under construction approximately four miles west of La Cima Crossing. The area benefits from strong demographics with approximately 133,810 residents within five miles and an average household income of $193,630 within a one-mile radius; $161,544 within a three-mile radius; and $158,488 within a five-mile radius.

Investment Highlights

  • 12,369-Square-Foot, Multi-Tenant Retail Center that is Well Positioned in the High-Growth North Dallas Suburb of Prosper
  • 100% Occupied with Three Tenants: Sweat Project Fitness Studio, Foley Pools, and Jerry's Liquor
  • All Leases are Triple-Net, Contain Personal Guarantees, and Include Annual Rent Increases
  • Located on East University Drive/US Highway 380 | Major East/West Corridor with Traffic Counts of Approximately 40,740 Vehicles per Day
  • Close Proximity to a Prime Retail Trade Corridor at the Intersection of University Drive and South Preston Road, an Amazon Distribution Center, and Numerous School Campuses

Exclusively Listed By

Shopping Strip

La Cima Crossing

Listing Price: $6,750,000

Cap Rate
5.79%
Gross SF
12,369
Rentable SF
12,369
Price/Gross SF
$545.72
Lot Size
2.23 acres
Year Built
2019

Investment Highlights

  • 12,369-Square-Foot, Multi-Tenant Retail Center that is Well Positioned in the High-Growth North Dallas Suburb of Prosper
  • 100% Occupied with Three Tenants: Sweat Project Fitness Studio, Foley Pools, and Jerry's Liquor
  • All Leases are Triple-Net, Contain Personal Guarantees, and Include Annual Rent Increases
  • Located on East University Drive/US Highway 380 | Major East/West Corridor with Traffic Counts of Approximately 40,740 Vehicles per Day
  • Close Proximity to a Prime Retail Trade Corridor at the Intersection of University Drive and South Preston Road, an Amazon Distribution Center, and Numerous School Campuses

Investment Overview

La Cima Crossing is a fully stabilized, 12,369-square-foot, multi-tenant retail center located in a fast-growing area of Prosper, Texas. The center is 100 percent occupied, and all leases are triple-net and include annual rent escalations. Tenants consist of Sweat Project, Foley Pools, and Jerry’s Liquor, and all leases include personal guarantees. The building is new construction completed in 2019 with attractive architecture and is situated on a 2.23-acre lot with concrete parking in the front and back of the building. La Cima Crossing is situated on the north side of East University Drive/US Highway 380, the major east/west thoroughfare in the city. Traffic counts are approximately 40,740 vehicles per day. The subject property is located east of a prime retail trade area at the intersection of University Drive and South Preston Road, with numerous national and regional retailers including Walmart Supercenter, Burlington, Dick's Sporting Goods, TJ Maxx, Ross Dress for Less, Old Navy, Ulta Beauty, Five Below, Famous Footwear, Kirkland's, PetSmart, DSW, Kohl's, Michaels, HomeGoods, Hobby Lobby, and others. Other significant traffic drivers to the area include several school campuses, an Amazon distribution center, and the center's close proximity to the future PGA Headquarters that is under construction approximately four miles west of La Cima Crossing. The area benefits from strong demographics with approximately 133,810 residents within five miles and an average household income of $193,630 within a one-mile radius; $161,544 within a three-mile radius; and $158,488 within a five-mile radius.

Exclusively Listed By

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