Pioneer Parkway Shopping Center
Pioneer Parkway Shopping Center is a 10,631 square foot retail asset located in the established central DFW submarket of Irving, Texas. Positioned just minutes south of Texas State Highway 183 off the intersection of Pioneer Drive and north MacArthur Boulevard, the Property is approximately 15 minutes west from Downtown Dallas and 30 minutes east of Downtown Fort Worth. Pioneer Parkway Shopping Center is 100% leased to a complementary mix of relevant retail tenants with an established local presence including Swyden’s Draperies & Pool Supply, El Hispano Beauty Salon, West Texas Counseling, Cell Phone Repair, Superior Health and Wellness, AOCO Locksmith and Lucas Tacos. The Property benefits from favorable access and visibility with parallel positioning to Pioneer Drive. Additionally, Pioneer Parkway Shopping Center has multiple egress/ingress points, a highly visible pylon sign and average suite sizes of only 1,519 square feet. In-place rents are below market at $20.87 per square foot gross, providing upside in raising rents to market levels and converting leases to NNN. Listed at a 7.25% cap rate, the Property is priced well below replacement cost at $218.46 per square foot to the building.