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Office

Sun Plaza Building

5656 S Staples St, Corpus Christi, TX 78411

Listing Price: $7,195,000

Rentable SF
73,607
Lot Size
3.25 acres
Year Built
1984

Investment Overview

Marcus & Millichap is pleased to present Sun Plaza. Sun Plaza is a multi-tenant office building located in Corpus Christi, Texas. The subject property is situated less than a mile from Highway 358 and directly across the street from the Copperfield Shopping Center, a major center for shopping and restaurant options. Sun Plaza is located along a major East/West business corridor populated by businesses, restaurants and other suburban office buildings. The property is minutes from Oso Bay, Corpus Christi Naval Air Station, Corpus Christ Medical Center Hospital and Corpus Christi Country Club. Built in 1984 and updated by the current ownership between 2016 and 2019, Sun Plaza is anchored by AT&T Telecommunications, Wood Engineering, and Bath Group. Since 2015, AT&T has occupied over 4,500 rentable square feet. Wood Engineering, an international engineering concern, utilizes another 5,250 rentable square feet to serve their regional customer base. Bath Group occupies the largest portion of the building, 6,340 rentable square feet, and committed to a 10 year lease term taking occupancy in January 2019. Currently 90.91 percent occupancy with limited roll-over exposure and several long-term tenants, Sun Plaza provides immediate cash-flow as well as an opportunity to add value through increasing below market rents. Since 2014, the current ownership has committed to maintaining the asset to the benefit of its tenants which is evidenced by an historical occupancy of over 90 percent. The subject property's anchored tenants, convenient location and attractive stabilized return make Sun Plaza a truly valuable asset for any investor.

Investment Highlights

  • Historical Occupancy Averaged Over 90%
  • 12% Day One Cash on Cash Return
  • Mix of Regional, National and International Tenants
  • Signalized Intersection at S. Staples Road and Holly Road
  • Ample Surface Parking
  • Three (3) Ingress/Egress Points

Exclusively Listed By

Financing By

Listing Price: $7,195,000

Rentable SF
73,607
Lot Size
3.25 acres
Year Built
1984

Investment Highlights

  • Historical Occupancy Averaged Over 90%
  • 12% Day One Cash on Cash Return
  • Mix of Regional, National and International Tenants
  • Signalized Intersection at S. Staples Road and Holly Road
  • Ample Surface Parking
  • Three (3) Ingress/Egress Points

Investment Overview

Marcus & Millichap is pleased to present Sun Plaza. Sun Plaza is a multi-tenant office building located in Corpus Christi, Texas. The subject property is situated less than a mile from Highway 358 and directly across the street from the Copperfield Shopping Center, a major center for shopping and restaurant options. Sun Plaza is located along a major East/West business corridor populated by businesses, restaurants and other suburban office buildings. The property is minutes from Oso Bay, Corpus Christi Naval Air Station, Corpus Christ Medical Center Hospital and Corpus Christi Country Club. Built in 1984 and updated by the current ownership between 2016 and 2019, Sun Plaza is anchored by AT&T Telecommunications, Wood Engineering, and Bath Group. Since 2015, AT&T has occupied over 4,500 rentable square feet. Wood Engineering, an international engineering concern, utilizes another 5,250 rentable square feet to serve their regional customer base. Bath Group occupies the largest portion of the building, 6,340 rentable square feet, and committed to a 10 year lease term taking occupancy in January 2019. Currently 90.91 percent occupancy with limited roll-over exposure and several long-term tenants, Sun Plaza provides immediate cash-flow as well as an opportunity to add value through increasing below market rents. Since 2014, the current ownership has committed to maintaining the asset to the benefit of its tenants which is evidenced by an historical occupancy of over 90 percent. The subject property's anchored tenants, convenient location and attractive stabilized return make Sun Plaza a truly valuable asset for any investor.

Exclusively Listed By

Financing By

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