Walk-On's - Odessa, TX

Jones Lang Lasalle Americas, Inc. (“JLL”) is pleased to present for sale the single-tenant Walk-On’s Sports Bistreaux in Odessa, TX(the “Property” or “Asset”). Walk On’s (the “Tenant’) has operated at this location since 2020 and has 15-years remaining on its Absolute NNN lease with 10% rent growth every 5-years and multiple renewal options. This Walk-On’s generates the highest alcohol sales of and Walk-On’s location in Texas (19 total). The Property is located on an outparcel within Parks Legado Town Center, a Class-A retail development that maintains full occupancy with a strong tenant mix of national and regional businesses. The Property benefits from direct frontage on TX Highway 191, the main thoroughfare linking Midland and Odessa with daily traffic volumes approaching 30,000 vehicles.

The surrounding area has experienced tremendous growth in recent years. Since 2010, the 3-mile population has increased by 77%. This growth has been accompanied by more than 2 million square feet of commercial developments since 2015 within 1.5-miles of the Asset, including 1,200 apartment units and 600 hotel rooms. Average home prices within such radius exceed $500,000 and AHHI near $120,000. The Asset’s positioning between downtown Odessa and Midland allow it to capture consumers from both markets. The Permian Basin—America's most significant oil and gas reserve—serves as the region’s primary economic driver through vast drilling and mining operations. Major corporations have larges presences in Odessa, including Exxon, Chevron, and ConocoPhillips. The strong business climate has been supported by recent upgrades to the city’s core infrastructure.

This Walk-On’s is operated by one of the top Walk On’s franchisees with several locations and the lease carries a personal guarantee. This Asset offers investors the chance to secure a stable retail investment in a high-growth market while capturing significant bonus depreciation advantages.