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78% LEASED WALMART SHADOW-ANCHORED RETAIL CENTER WITH ADJACENT DEVELOPMENT SITE 6826 NORTH LOOP 1604, SAN ANTONIO, TEXAS 78247
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp a Texas licensed real estate broker (“HFF”).
NACOGDOCHESC RO S S I N G
O F F E R I N G S U M M A R Y
EXECUTIVE SUMMARYHFF is pleased to present the opportunity to acquire Nacogdoches Crossing (the “Property”), a 22,434 square foot neighborhood shopping center located in the rapidly growing northeast submarket of San Antonio. The Property is currently 78% occupied by a diverse mix of internet-resistant tenants and is shadow-anchored by a Walmart Supercenter. Current occupancy presents investors with a significant value-add opportunity through lease up of vacant space, combined with stable existing cash flow. Additionally, the Property features approximately 2 acres of development-ready land able to accommodate approximately 19,000 square feet of retail product. Nacogdoches Crossing presents investors with a unique combination of immediate upside through leasing of vacant suites and future development potential in one of the country’s fastest growing cities.
ECONOMICS SUMMARYTotal Price: $4,500,000
Existing Improvements: $3,500,000
In-Place NOI: $247,716
Cap Rate: 7.08%
PSF (existing): $156
Additional Development Site: $1,000,000
PSF (land): $11.00 (NOTE: existing improvements and additional development site are on the same parcel and will be sold together)
PROPERTY OVERVIEWAddress 6826 North Loop 1604, San Antonio, TX 78247
Size 22,434 RSF
Acreage 5.86 Acres
Parking 319 Spaces* (14:1,000)
Occupancy 78%
Year Built 2005
Development Site 2 Acres
Key Tenants SF Expiration Cato Fashions 4,060 January, 2022Taco Cabana 3,021 April, 2021Rolling Oaks Dental 1,926 December, 2021
Shadow Anchor Walmart Supercenter - 220,000 square feet
*includes parking spaces built out for future development
NACOGDOCHESC RO S S I N G
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OFFERING SUMMARY
SUPERIOR LOCATION, ACCESS & VISIBILITY• Nacogdoches Crossing is situated along Loop 1604 (100,000 VPD)
at the Nacogdoches intersection with strong visibility from the access road
• The Property is located within an established trade area near the I-35/Loop 1604 interchange and is shadow-anchored by a Walmart Supercenter
• The trade area is highlighted by 1MM square feet of retail across the street at Rolling Oaks Mall as well as a future H-E-B grocery store site
• In addition to the traffic generated by Loop 1604, the Property sits just north of the intersection of Loop 1604 and I-35, an area that will soon be enhanced by a new 290,000 square foot IKEA
• The Property has benefited from northern sprawl and population growth as well as the nearby Randolph Air Force Base with over 1,200 active military personnel
DEMOGRAPHICS 1-Mile Radius
3-Mile Radius
5-Mile Radius
Population (2017) 3,983 61,320 171,410
Population Growth 2017 - 2022 9.0% 9.6% 9.2%
Population Growth 2010-2017 17.4% 17.4% 15.8%
Average Household Income $79,720 $75,368 $83,485
Nacogdoches Rd
Nacogdoches Rd
Nacogdoches Rd
Nacogdoches Rd
Stahl RdStahl Rd
Judson Rd
Judson Rd
Toepperwein Rd
Toepperwein Rd
Schertz Pkwy
Schertz Pkwy
Evans Rd
Evans Rd
Evans Rd
Evans Rd
Evans Rd
Evans Rd
Toepperwein Rd
Toepperwein Rd
O’Connor Rd
O’Connor Rd
O’Connor Rd
O’Connor Rd
Lookout Rd
Lookout Rd
Crestway DrCrestway Dr
Randolph Blvd
Randolph BlvdWurzbach Pkwy
Wurzbach Pkwy
Walzem RdWalzem Rd
LIVE OAKLIVE OAK
SELMASELMA
BRACKENBRACKEN
CONVERSECONVERSE
UNIVERSAL CITYUNIVERSAL CITY
RandolphAir Force Base
RandolphAir Force Base
FutureH-E-B Site
FutureIKEA Site • Home Depot
• Pet Smart• World Market• Hobby Lobby
THE FORUM• Target• Best Buy• Kohl’s• TJMaxx
• Gattiland• Wingstop• Tuesday Morning
TRIANGLE SHOPPING CENTER• Gold’s Gym• Aarons Rents• Dollar Tree
• Spec's Liquor • O�ice Depot• Factory Mattress• Chuck E. Cheese
VILLAGE AT FORUM PARKWAY
• Dillard’s • Macy’s
• JCPenney • Sears
ROLLING OAKSMALL
TRAFFIC COUNTSIH-35 191.955Loop 1604 100,656Nacogdoches Rd 21,000
NACOGDOCHESC RO S S I N G
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INVESTMENT HIGHLIGHTS
100,
656
VD
P
191,955 VDP
21,000 VDP NACOGDOCHES RD
DOWNTOWNSAN ANTONIO
(17 MILES)
AUSTIN (60 MILES)
NACOGDOCHES RD
STAHL RD
• Target• Best Buy
• Spec's Liquor • O�ice Depot• Factory Mattress• Chuck E. Cheese
VILLAGE AT FORUM PARKWAY
VILLAGE AT FORUM PARKWAY TOEPPERWEIN RD
NORTHEAST METHODIST HOSPITAL
• Dillard’s• Macy’s
• JCPenney• Sears
ROLLING OAKS MALL
THE FORUM• Kohl’s• TJMaxx
• World Market• Hobby Lobby
• Home Depot• PetsMart
Navy FederalCredit Union
UNDERCONSTRUCTION
Gold’s GymRegalCinemas
Academy Costco
WalmartSupercenter
Jim’sRestaurant
IHOP
Burger King
Whataburger
Wendy’s
Sonic
McDonald’s
FUTURE H-E-B SITE
FUTUREIKEA
SUMMER 2019
RETAMA SPRINGS500 HOMES
ROLLING MEADOWS400 HOMES
RAINTREE400 HOMES
• Golds Gym• Aarons Rents• Dollar Tree
• Gattiland• Wingstop• Tuesday Morning
TRIANGLE SHOPPING CENTER TRIANGLE SHOPPING CENTER
NACOGDOCHESC RO S S I N G
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OFFERING SUMMARY
AvailableLeased
Navy Credit Union(Under Construction)
101
207
206
204
203
202
102104105106
107
Future Development
Future Pad Site
NA
CO
GD
OC
HES
RD
N LOOP 1604 E
N LOOP 1604 ACCESS ROAD
21,0
00 V
EHIC
LES
PER
DAY
100,656 VEHICLES PER DAY
Future Pad Site
Future Pad Site
NOT A PART
NOT A PART
NOT A PART NOT A PART
NOT A PART
WALMARTSUPERCENTERWALMARTSUPERCENTER
FUTURE HEB SITE
Southeast corner of Loop 1604 & Nacogdoches Rd
Lease-up of existing vacancies provides approximately $136k in additional NOI
Shadow-anchored by only Walmart servicing
Northeast Loop 1604
Development ready pad site on approx. 2 acres
Development site o�ers existing parking field
complete with lighting and landscaping
Point of Ingress/Egress from Access Road
SUITE TENANT SF
101 Texas Vape Stores 1,280
102 Rolling Oaks Dental 1,926
104 Terra Spa 1,800
105 State Farm 1,000
106 Subway 1,500
107 Taco Cabana 3,021
202 Cato Fashions 4,060
203 Angel Nails 1,000
204 Available 1,482
206 Available 3,565
207 U.S. Army 1,800
TOTAL SF 22,434
NACOGDOCHESC RO S S I N G
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SITE PLAN
INCOME STABILITY PAIRED WITH VALUE ENHANCEMENT • Currently 78% occupied, the lease-up of existing vacancy has the potential to
increase NOI by $136,000 annually
• Staggered rollover in the first 4 years offers limited exposure to large vacancies and a mark-to-market opportunity with existing rents 13% below the competitive set
• The Property offers a diverse tenant mix, consisting of restaurant, medical, military and salon services
• 77% of existing tenants are service-based, creating an internet and Amazon resistant asset
• A development-ready pad site consisting of approximately 2 acres is available with the Property, offering potential investors the opportunity to develop up to 19,000 additional square feet
• This pad site has a paved parking area complete with lights and landscaping, eliminating a significant portion of the site development costs
• Only 330,000 square feet of new product is currently under construction in the entire submarket, 290,000 of which is the new IKEA
• Limited construction starts coupled with tightening occupancy presents ideal market conditions for near term development
DEVELOPMENT READY PAD SITE
NACOGDOCHESC RO S S I N G
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INVESTMENT HIGHLIGHTS
QUALITY TENANCY AND CONSTRUCTION• State Farm, Subway and Taco Cabana add
nationally recognized brands while increasing consumer traffic to the Property
• Recent, high quality construction offers superior curb appeal with limited future capital requirements
STRONG MARKET FUNDAMENTALS • The current submarket is 93% occupied and
occupancy rates have remained above 90% since 2005
• Average quoted rental rates of $20.87 to $24.83 per square foot NNN amongst competitive set offer the ability to substantially increase rental rates, which currently average $18.09
• Rental rates in the northeast submarket have increased 14% since 2011
• The population is expected to grow 9% over the next five years within a 5-mile radius of the Property
NACOGDOCHESC RO S S I N G
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INVESTMENT HIGHLIGHTS
If you have any questions or require additional information, please contact any of the individuals below.
©2017 Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P. (“HFF”) has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.
500 West 5th StreetSuite 1200Austin, TX 78701 USA
512-532-1900512-532-1901
www.hfflp.com
ADDITIONAL INFORMATION
JOHN TAYLORManaging [email protected]
DREW FULLERAssociate [email protected]
BENTLEY SMITHReal Estate [email protected]
MIKE RESTIVOReal Estate [email protected]
DEBT INFORMATIONKYLE [email protected]
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ADDITIONAL INFORMATION