Property Name

McDermott Commons South

Location

2035 West McDermott Drive
Allen, TX 75013

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Property Description

McDermott Commons South is a 21,137 square foot retail center located in the North Dallas submarket of Allen, Texas. Positioned on the southeast quadrant of McDermott Drive and Custer Road, the Property sits on 2.47 acres of land approximately thirty minutes north of Downtown Dallas.  McDermott Commons South is 100% leased to a complementary mix of tenants including Subway, Little Caesars Pizza, GNC, H&R Block, Farmers Insurance, Sassy Popcorn and My CookieLand among others. Four new leases commence in 2017 including a massage tenant, Supreme Kitchen, Imagination VR and Alonti Catering which equate to over 28% of the Property’s GLA. Upside in rent growth exists with current rents averaging only $17.03 per square foot NNN. The Property benefits from a staggered lease rollover schedule with an average lease expiration date of March 2020. McDermott Commons South is offered at a 7.25% cap rate which is priced near replacement cost at $218.34 per square foot.

Status


In Escrow

GLA


21,137 SF

Percent Leased


100% Leased

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