Property Name

Cedars Corner

GLA 15,491 SF

Percent Leased 100% Leased

Property Description

Cedars Corner is an urban infill asset located at the gateway entry to The Cedars, across from the Lorenzo Hotel adjacent to Downtown Dallas.  The Property is situated at the hard corner intersection of South Akard Street and Griffin Street. Cedars Corner ground floor space is leased to a complementary mix of food and service tenants which includes Val’s Cheesecakes, Break the Moldz, The Soleful Vibes, Berkshire Farms, Vanity Life and Koffee Day Spa. Effective rents average $22.44 PSF, while retail leasing activity within the area achieving higher effective rents. All six (6) tenants experience built in rent escalations during their primary term. Koffee Day Spa, representing 10.33% of GLA or 1,600 SF, is currently paying $21.00 Gross, with market commanding rents in excess of $28.00 PSF NNN. The Property benefits from strong residual value as a rectangular, hard corner site at a four-way lighted intersection with dedicated surface parking for residential tenants.  Cedars Corner features all masonry construction, a historic Newland Hotel neon sign, relevant retail store frontage parallel to South Akard Street and a distinguishable hand painted Coca Cola mural. Total population within a one-mile radius of Cedars Corner increased by a significant 264% from 2000 to 2023.