STREAM Capital Partners > Properties > All Properties > Main Event, TruFit Athletic Club & Parry’s Pizza

Main Event, TruFit Athletic Club & Parry’s Pizza

Net Lease

2320 N Expressway Rd, Brownsville, TX
Ownership Type:
Fee Simple
Price:
$19,000,000
Cap Rate:
8.44%
Current Rent:
$1,603,998
Tenancy:
Multi-Tenant
Lease Type:
DoubleNet
Building Sq. Ft.:
104,106 SF
Site Size:
11.44 Acres

Investment Highlights

  • High Volume Anchor: Main Event (Dave & Busters) anchors the property and has strong site level sales in excess of their percentage rent breakpoint.
  • Passive Lease Structure: Main Event, TruFit Athletic Club, and Parry’s Pizza all have NNN lease structures with staggered expirations and upcoming rental escalations within two years.
  • Prime Retail Positioning: The asset is part of Sunrise Mall, a 740,000 SF regional mall with visibility and access along I-69E. I-69 has over 106,000 VPD and is the main thoroughfare connecting the US and Mexico.
  • Future Value Add Opportunity: The parcel allows for an approximate 1.5 acre pad site, providing the landlord with future development upside.
  • National Retail Corridor: Other national retailers in the area include Lowe’s, Hobby Lobby, Wells Fargo, Firestone, Whataburger, McDonalds, Starbucks, and more.
  • Strong Local Population Growth: Brownsville is the largest city in the Rio Grande Valley and has projected 5 year population growth of 4% within 1 mile of the site.
  • Growing Aerospace Industry: Space X’s Boca Chica launch site is 25 minutes from the site and will be used for the Starship launch vehicle.
Ownership Type:
Fee Simple
Price:
$19,000,000
Cap Rate:
8.44%
Current Rent:
$1,603,998
Lease Type:
DoubleNet
Building Sq. Ft.:
104,106 SF
Site Size:
11.44 Acres

Listing Agents

Connor Shell

Managing Director
407.913.9009[email protected]

Graham Gold

Vice President
314 324 8792[email protected]

Broker of Record: Kyler Bean TX Lic#: 646910

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