The Shops at San Juan
San Juan, TX
| Price | $5,746,000 |
| Cap Rate | 7.00% |
| NOI | $402,180 |
| Lease Term | Various |
| Lease Type | Various |
| Rental Increases | Various |
| Year Built | 2021 |
| Building Size | 15,824 SF |
| Lot Size | 1.53 acres (67,778 SF) |
| Status | Available |
| Lead Broker Information | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Jack Hinson Cushman & Wakefield 704.572.9921 jack.hinson@cushwake.com CA RE License #02059267 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
100% LEASED MULTI-TENANT RETAIL-ASSET WITH SCHEDULED ANNUAL RENTAL INCREASES
» 100% leased multi-tenant retail asset featuring a strong mix of corporate tenants
» Multi-tenant asset allows for investment diversification
» Scheduled rental increases for all leases, providing a hedge against inflation
» Complimentary mix of “Amazon-proof” retailers
» High-quality 2021 construction located in an income tax free state
HIGH-VISIBILITY LOCATION IN LARGE AND GROWING TEXAS MARKET
» High-visibility location along West Interstate Highway 2, with 156,684 vehicles per day directly in front of the location
» Beneficial proximity to highly trafficked Texas thoroughfares, including Interstate 69C (132,940 AADT)
» 203,522 residents live within a five-mile radius of the location, providing a large customer base for the property
» Projected nine percent average annual household income increase within a three-mile radius of the site in the next five years, poising The Shops at San Juan for significant concurrent growth
» 15 percent population increase within five miles of the site in the past 10 years, demonstrating San Juan’s explosive and steady development
CENTRALLY LOCATED NEAR LARGE RETAILERS AND COMMUNITY HUBS
» Shadow-anchored by an H-E-B Plus, funneling crossover traffic directly to the location
» Surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Costco, Target, Walgreens, Burger King, Domino’s Pizza, Subway, Taco Palenque (under construction), and many more
» Located within a five-mile radius of five major shopping centers with a combined 257 stores and 3.1 million SF of retail space
» Seven miles from McAllen International Airport (approximately 432,000 annual passengers)
» Location provides excellent access to purchasing power from the Reynosa-McAllen metroplex (population 1.5 million), South Texas region, and affluent northern Mexican markets
Property Description
The property has a high-visibility location along West Interstate Highway 2, with 156,684 vehicles per day directly in front of the location. The site has a beneficial proximity to highly trafficked Texas thoroughfares, including Interstate 69C (132,940 AADT). The property is supported by a large customer base, with 203,522 residents living within a five-mile radius of the location. The location is primed to grow along with the surrounding area, with a projected nine percent average annual household income increase within three miles of the site in the next five years. San Juan has also experienced a 15 percent population increase within five miles of the site in the past 10 years, demonstrating the areas explosive and steady development.
The property greatly benefits from its central location near large retailers and community hubs. The property is shadow-anchored by an H-E-B Plus, funneling crossover traffic directly to the location. The site is surrounded by a strong mix of local and national retailers, including Walmart Supercenter, Costco, Target, Walgreens, Burger King, Domino’s Pizza, Subway, Taco Palenque (under construction), and many more. The property is also located within a five-mile radius of five major shopping centers with a combined 257 stores and 3.1 million square feet of retail space. The location maintains a beneficial proximity to McAllen International Airport (approximately 432,000 annual passengers) and provides excellent access to purchasing power from the Reynosa-McAllen metroplex (population 1.5 million), South Texas region, and affluent northern Mexican markets.
