Commons at North Park

2900 W Loop 250 N, Midland, TX, 79705-3291, US

Description

JLL is pleased to present The Commons at North Park ("The Property") a 110,137-neighborhood retail center in Midland, Texas. The Property is currently 100% to a diverse range of tenants featuring an approximately 19% mark-to-market opportunity and 3.7 years of weighted average lease term

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Attributes

Building area gross

10,232 sm

Occupancy

100%

Land area gross

4.35 ha

Year Built (Phase I)

2012

Year Built (Phase II)

2014

Media

Investment highlights

100% Occupied with impressive 9.3 Year Average Tenure; 17 of 26 tenants are original to the development
Significant upside via 19% below market rents
4.81% 10-YR CAGR
Excellent visibility with frontage along Loop 250 seeing 58,152 VPD
Ability to lower basis via sell down of single and multi-tenant pad buildings