Retail

Central Malls - Kohan Retail

2400 Richmond Rd, Texarkana, TX, 75503-2466, US

Central Malls - Kohan Retail_Property for Sale

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Asset description

JLL has been retained as exclusive advisor for the sale of Central Mall Port Arthur and Central Mall Texarkana (each, the “Property”, collectively, the “Properties”) – two market dominant regional malls serving the extended trade areas surrounding Port Arthur and Texarkana, Texas.

Attributes

Building area Net
561,180 sf
Occupancy
100.00%
Year built
1978

Investment highlights

GEOGRAPHIC CONCENTRATION

Both Central Mall Port Arthur and Central Mall Texarkana are located in close relative proximity to each other, presenting a compelling portfolio opportunity which offers significant potential operational efficiencies.


HEALTHY OCCUPANCY COSTS

With an average sales productivity of $339/SF and corresponding occupancy cost of approximately 7.9%, both Properties are at the low end of the benchmark range of acceptable health ratios for their productivity profile with room for additional upside in rents upon renewal or lease-up.


MARKET DOMINANT ASSETS

Central Mall Port Arthur and Texarkana enjoy expansive trade areas, with the closest enclosed regional mall competition approximately 20 and 80 miles from each Property, respectively.


EXCEPTIONAL LOCATION & ACCESS

Both assets are prominently located at the intersection of highly trafficked roadways.


VALUE CREATION OPPORTUNITIES

Both Properties are at an attractive stage in its leasing cycle, offering a compelling entry point for a new investor to capitalize on a number of actionable value creation opportunities.


DEMONSTRATED LONG TERM VIABILITY

Both Central Mall's have been the family-friendly retail, dining and entertainment destination of choice in their respective communities for nearly 40+ years.

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Last updated
Nov 30, 2022