Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee-simple interest in a freestanding multi-tenant strip center leased to Mattress Firm & American Red Cross (“Property” or “Asset”). Located at 2511 W. Lyndon B. Johnson Freeway in Irving, Texas, the Asset features excellent interstate visibility in between the tax-free Dallas and Fort Worth CBDs.
This Asset features corporate tenancy from Mattress Firm, the largest omni-channel mattress specialty retailer in the United States, and from American Red Cross, the single largest supplier of blood in the United States.
The Property is positioned with frontage along the Lyndon B. Johnson Freeway, which is the main thoroughfare between Dallas and Fort Worth, while also connecting both CBD’s to the Dallas International Airport. The Freeway sees a combined 255,610+ vehicles per day and acts as the southern border to the 4.1 million SF, 97% occupied Coppell retail submarket. The surge in demand directly related to an influx of residents over the past decade (138%+ growth in the one-mile radius surrounding the Property) has put upward pressure on retail rents in the area, which have grown commutatively by 10.3% over the last 3 years.
This unique opportunity allows investors the ability to acquire a dual-tenant asset located in an infill, fundamentally strong, and highly affluent DFW market with interstate frontage. The asset offers secure, long-term cash flow backed industry-leading tenancy with global name recognition.
Affluent, Dense Surrounding Community
- 193,000+ residents with an average household income of $126,200 live within 5 miles of the Asset
Rare Fair Market Reset in Dallas-Fort Worth
- Both Tenants are subject to rental increases upon their renewals in 2028; The Mattress Firm lease is subject to a Fair Market Value reset and the American Red Cross is also subject to a 10.0% rental increase
Pandemic-Resistant Tenancy from Global Brand Names
- Mattress Firm and American Red Cross are both the largest omni-channel mattress retailer and largest single blood supplier in the United States, with a combined 36,500+ employees
Frontage Along Major DFW Thoroughfare
- Situated with frontage along the Lyndon B. Johnson Freeway, which sees 255,610 VPD and connects the Dallas & Forth Worth CBDs with the Dallas International Airport
Top-Rated Tax-Free Metro in the U.S.
- 145+ corporate headquarters have relocated to the Dallas-Fort Worth Metro since 2010, making DFW the #1 MSA in the country for both job growth and population growth