Shops at Spring Village
| Price | $10,080,000 |
| Cap Rate | 7.00% |
| NOI | $705,703 |
| Lease Term | Various |
| Lease Type | Various |
| Rental Increases | Various |
| Year Built | 2017 |
| Building Size | 20,938 SF |
| Lot Size | 2.04 Acres (88,862 SF) |
| Status | Under Contract |
| Lead Broker Information | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
100% LEASED MULTI-TENANT RETAIL CENTER
» Long-term Net leases to notable national tenants
» Strong store sales and featuring a dedicated drive-thru for Dunkin’
HIGH-TRAFFIC LOCATION IN DENSELY POPULATED RETAIL CORRIDOR
» Excellent visibility and access to 17,200 vehicles per day
» Immediate access to Interstate 45 (130,000 AADT)
» Prominent pylon sign facing main access road featuring all tenants
» Across the street from a Kroger-anchored shopping center
CENTRAL LOCATION NEAR LARGE EMPLOYERS AND SCHOOLS
» Two Miles from Exxon Mobil Houston Campus (3,900 Employees), Southwestern Energy (1,575 Employees), ABS Group (1,200 Employees), and HP’s Spring, TX Campus (2,400 Employees)
» Within five miles of eight schools with a combined enrollment of 12,207 students
Property Description
The property is conveniently located on Spring Stuebner Road, with excellent visibility and access to 17,200 vehicles per day in front of the site. The location has immediate access to Interstate 45, which experiences a hightraffic count of 130,000 AADT. The site is located across the street from a Kroger-anchored shopping center and is surrounded by a wide array of national retailers including Chick-fil-A, Courtyard by Marriot, Cold Stone, Wendy’s, McDonald’s, Edible Arrangements, and many more. The property also has a prominent pylon sign facing Spring Stuebner Road featuring each tenant.
The property is centrally located near large schools, major employers, and affluent residential neighborhoods. Visibility is increased by the site’s proximity to the Exxon Mobil Houston Campus, which employs 3,900 people and is located two miles away. The property is within a five-mile radius of Klein Collins High School (3,615 students), Spring High School (3,239 students), Schindewolf Intermediate School (1,378 students), Zwink Elementary School (1,000 students), Kreinhop Elementary School (864 students), Haude Elementary School (740 students), Roth Elementary School (693 students), and Lemm Elementary School (678 students). Additionally, 234,299 residents live within a five-mile radius of the property, while the average household income of residents within a one-mile radius of the site is $110,535.
