Retail

Irving Market Center

3907-4025 W Airport Fwy, Irving, TX, 75062-5910, US

Executive Summarydownload
Irving Market Center_Property for Sale

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Irving Market Center 2_Property for Sale

Asset description

Jones Lang LaSalle ("JLL") is pleased to exclusively offer Irving Market Center (the "Property"), a 99% leased, 237,058 square foot shopping center with unbeatable visibility directly off TX-183 at the heavily trafficked intersection of W Airport Freeway & Cheyenne St in Irving, Texas. The Property, anchored by Best Buy, PetSmart and Ross Dress for Less offers stable cash flow from a robust national tenant roster accounting for 90% of the in-place cash flow boasting an average tenant tenure of 17 years drawing well over 2.1 MM annual visitors and 4 years of remaining WALT. Irving Market Center provides investors with the unique investment opportunity to acquire a high-performing power center with a reliable cash flow, robust national tenant mix, and multiple value enhancement opportunities including the ability to spin off multiple single and multi-tenant pads at accretive cap rates.

Attributes

Building area Net
237,058 sf
Occupancy
99.00%
Year built
1987
Land area Net
22.69 acres (988,376 sf)

Investment highlights

Dense Trade Area Centered between Dallas and Fort Worth

Premier Tenant Roster Generating 2.1M+ Visitors Top 20% of Shopping Centers Nationally

Highly Visible Along Highway 183 with 195,400 VPD

87% Cash Flow from National Credit Tenancy With a WALT of 4+ Years

Value-Creation Opportunities Via Pad Sell Down Opportunities as Debt Matures

Loyal Rent Roll With 17 weighted average years of Tenant Tenure

Irving Market Center 4_Property for Sale

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Last updated
Nov 30, 2022