Property Name

Waxahachie Retail Center

Location

1585 North Highway 77
Waxahachie, TX 75165

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Property Description

Waxahachie Retail Center is a 12,054 square foot retail strip located at the signalized hard corner of U.S. 77 and YMCA Drive in Waxahachie, Texas.  With shallow bay space and fundamentally sound positioning parallel to U.S. 77, the Property sits on 1.4 acres of land just north of U.S. 287 with proximity to Dallas (less than thirty minutes) and Fort Worth (less than forty five minutes). Waxahachie Retail Center is 100% leased to Cancun’s Ameri-Mex Restaurant, Coldwell Banker, In & Out Smart Repair, Star Nails, EmbroidMe and Diversified Sourcing Solutions.  Cancun’s Ameri-Mex Restaurant, Coldwell Banker and Star Nails have all been tenants at the Property since it was built in 2001. Current rents average just $21.38 per square foot NNN with an average lease expiration date of November 2020. Comparable new construction retail in this section of Highway U.S. 77 have asking lease rates for $26-$36 per square foot NNN with effective rents (including NNN expenses) asking $45 per square foot. Star Nails, which currently occupies 1,100 square feet, has committed to expand into EmbroidMe’s 1,209 square foot suite upon the expiration of EmbroidMe’s lease in March 2018. Rent on the 1,209 square foot space will increase by over 15% with Star Nails’ expansion.  Cancun’s Ameri-Mex Restaurant and Star Nails both have rent escalations during their primary lease terms.  Additionally, Cancun’s presents significant long-term upside potential given they occupy the primed end cap in the Property and are currently paying just $17.33 PSF NNN.

Status


In Escrow

GLA


12,054 SF

Percent Leased


100% Leased

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