Sprouts Farmers Market - Dallas, TX
17795 Dallas Parkway, Dallas, TX, 75287, US
MYR 51,164,000 | 1,854 m²
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a new construction, single tenant Calloway’s Nursery (the “Property” or “Asset”) offering in Dallas, TX. The Asset is strategically positioned on a 1.73-acre parcel fronting Greenville Avenue across from Royal Oaks Country Club, 8 miles northeast of Downtown Dallas. The surrounding area offers a unique mix of commercial properties including a premier hospital, country club, office buildings, apartment communities and dense, affluent demographics. Since 2010, the surrounding 1-mile population has grown by nearly 20%. To support this growth, more than 2,000 apartment & assisted living units have been delivered within four blocks of the Asset since 2021 alone.
Calloway’s is the premiere nursery & gardening retailer in the Dallas region, operating in 27 locations throughout the area and generating $102 million in annual revenues. The Tenant has 16+ years of term remaining on an original 20-year absolute NNN lease with contractual increases and three (3) 5-year renewal options. This Asset provides investors the opportunity to acquire a property with an irreplaceable location in the heart of Dallas offering long-term, stable cash flow, with zero management responsibility.
High Growth Market:
The surrounding 1-mile area has seen a 19% population growth since 2010
Leading Pro-Business Environment:
#1 State for doing business 17 years in a row
Strong Local Demographics:
172,000 people reside within 3-miles of the Asset, earning average household incomes of $125,000
Irreplaceable Real Estate:
Rare 1.75 AC infill real estate along the coveted Greenville Avenue corridor, one of the most sought-after areas in the region
Industry Leading Tenancy:
Regional leader in nursery & landscaping with nearly 30 locations, 40 years of experience, and $100+ million in revenues
Niche Product With High Barriers To Entry
The tenant’s unique industry results in high barriers to entry, minimal competition, and greater investment security