Pine Village Shopping Center
Pine Village Shopping Center is a 43,332 SF stabilized grocery anchored retail center located minutes from Stephen F. Austin University along the primary retail corridor of Nacogdoches, Texas. Located on 5.86 acres, the Property is 100% leased to a complimentary mix of grocery, healthcare & services tenants which include La Michoacana, Boost Mobile, H&R Block, Buddy’s Home Furnishings, Kim’s Nail Spa, NMC Wound Care Center, Remco & Fade Lordz. As a testament to the strength of the submarket and location, La Michoacana is the longest tenured tenant at Pine Village Shopping Center (over 19 years) and recently signed a 10-year lease extension through June 2032 and further increased their overall GLA. Additionally, six (6) of the current tenants making up 50.88% of the GLA have been at Pine Village Shopping Center for at least 10 years. Rents average $12.94 PSF with potential upside in converting the existing gross lease to NNN. Priced at $161.17 PSF, Pine Village Shopping Center is well below replacement cost for similar retail assets. The Property benefits from excellent visibility with parallel frontage to North Street, multiple ingress/egress points, and a 2-sided pylon sign. North Street is the primary retail corridor of Nacogdoches and features over 1,100,000 SF of retail, entertainment and restaurant GLA. Notable retailers along North Street include Walmart Supercenter, Kroger, CVS, Hobby Lobby, Atwood, Dollar Tree, Chick-fil-A, Starbucks, Chipotle and Family Dollar amongst others.