Property Name

Highway 380 & Lake Forest Retail

GLA 7,929 SF

Percent Leased 100% Leased

Property Description

Highway 380 & Lake Forest Retail is a 2023 construction, 7,929 square foot, three-tenant retail asset located along Highway 380 in a high-growth, affluent submarket of McKinney, Texas.  Positioned just east of the Highway 380 and Lake Forest Drive intersection, the Property is approximately 40 minutes north of Downtown Dallas.  Highway 380 & Lake Forest Retail is 100% leased to a complementary mix of retail, service and medical users including Aroma Smiles Dental, Texas Hot Tub Company and Elements Massage.  Rents average only $31.63 per square foot NNN with all experiencing built in rent escalations during their primary lease terms.  New leases for comparable small shop retail space in McKinney have rents in the $40-$50 per square foot range, NNN, providing future upside opportunity in rent growth.  Total population within a one mile radius of Highway 380 & Lake Forest Retail increased by over 1,300% from 2000 to 2023. Notable national retailers in close proximity include Kroger Marketplace, Costco Starbucks, Chick Fil-A, Chase bank, McDonald’s, Chipotle and Walgreens, among numerous others.