Academy - Flower Mound, TX_Property for Sale
Academy - Flower Mound, TX_Property for Sale
Justin Road 3621, Flower Mound, TX, 75028, US

Academy - Flower Mound, TX

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in a freestanding single-tenant Academy Sports + Outdoors located at 3621 Justin road in Flower Mound, Texas (“Property” or “Asset”). The offering includes assumable financing at an attractive 5.54% fixed rate with 3.9 years remaining until maturity. 

This Asset is operating on a 20-year absolute triple net lease with 9.8 years remaining. The lease features four, five-year renewal options and rent escalations every 5 years in the primary term and options. 


 Academy is a highly recognized regional sporting goods and outdoor recreation retailer with a loyal customer base. The company operates over 260 stores throughout the Southeastern U.S., serving over 40M customers annually. The site was constructed as a build-to-suit for the Tenant in 2013. 


The Asset is located in the Dallas-Fort Worth MSA, the fourth largest metro in the nation and has seen 24.2% population growth since 2010. The Property is positioned in the fast-growing town of Flower Mound, which has seen 34.4% population growth since 2010 in a one-mile radius. Positioned in a dense retail corridor at the intersection of Justin Road and Long Prairie Road, the Property benefits from over 62,000 VPD passing the site. Notably, the area contains a highly affluent resident base that earns $183,000 in average household income in a one-mile radius. 


Adjacent is The Shops at Highland Village, one of the top-performing neighborhood centers in the nation. The center sees over 3.1 million visitors annually (Placer.ai) and ranks in the 98th percentile of power centers nationwide. The surrounding area is an essential retail hub for Flower Mound and is home to major retailers such as Whole Foods, Walmart, Target, Lowe’s, T.J. Maxx, and many more.


...

Attributes

Asking price
CHF 7,911,000
Cap rate
7%
Building area net
6,698 m²
Year built
2013
WAULT
9.8 years

Media

Investment Highlights

  • The offering includes assumable financing at an attractive 5.54% fixed rate with 3.9 years remaining until maturity. 
  • NNN lease with 9.8 years of primary lease term remaining and four, five-year renewal options and rent escalations every five years
  • Exposure to over 62,000 VPD on major thoroughfares in essential Flower Mound retail hub
  • Incredible demand characteristics driven by a 1-mile AHHI of $183,000 and 34.4% population growth since 2010
  • Located adjacent to The Shops at Highland Village which sees over 3.1 million visitors annually (Placer.ai) and ranks in the 98th percentile of power centers nationwide.
  • Academy Sports + Outdoors industry-leading tenancy with 12.9% revenue CAGR from FY2019-2022
Academy - Flower Mound, TX 4_Property for Sale
Academy - Flower Mound, TX 4_Property for Sale

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Academy - Flower Mound, TX (0 Properties)

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Last updated
16 May 2024