690 American WayTerrell, TX 75160

For Sale
Call for price

High-growth area, 100% occupied, NNN leases.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 260,877-square-foot power center in Terrell, Texas, presents a compelling investment opportunity. Boasting 100% occupancy and anchored by Academy Sports + Outdoors and Hobby Lobby, this multi-tenant property features 34 units across nine buildings situated on 29.33 acres. The strong tenant mix includes 93% national or regional retailers with staggered lease expirations and built-in rent increases, ensuring consistent income growth. All leases are triple-net (NNN), with most tenants having five to ten years remaining on their primary terms. The property's prime location at the intersection of FM 148 and Crossroads Parkway provides excellent visibility and accessibility, with close proximity to Interstate 20. The surrounding area is experiencing significant growth, with numerous national retailers nearby and substantial residential development underway, including the recently completed 270-unit Magnolia Grove Apartments and the soon-to-be-completed 300-unit Southerly Apartments. The property benefits from its proximity to The Shops at Terrell outlet mall and the high-traffic Canton First Monday Trade Days. This power center offers a compelling combination of strong occupancy, stable income, and significant growth potential in a rapidly expanding market. The property's attractive architecture and ample parking further enhance its appeal. The potential for future upside exists through the development of pad sites. This is a rare opportunity to acquire a high-performing asset in one of the fastest-growing counties in the nation.

Highlights

  • 260,877-square-foot multi-tenant power center in Terrell, Texas.
  • Anchored by Academy Sports + Outdoors and Hobby Lobby.
  • 93% of GLA leased to national or regional tenants; 50% to publicly traded companies.
  • 100% leased; all leases are triple-net (NNN) with most including scheduled rent increases.
  • Nine buildings (eight multi-tenant, one single-tenant) on 29.33 acres.
  • Potential for future upside through pad site development.

Property Details for 690 American Way

Property type
Lifestyle centers, Power centers
Square Feet
260,877 SF
Year Built
2019
Buildings
9
Lot Size (sq. ft)
1,277,615 SF
Units
34

Location Insight

City
Terrell
County
Kaufman
State
Texas
Latitude
32.719044155275
Longitude
-96.324951324592
690 American Way, Terrell, Texas

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690 American Way
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