Shops at Garland

3315 North President George Bush Highway Garland, TX 75040

FOR SALE
Property Type:
Strip Center
Amount:
$3,137,000
Last Verified:
Mar 14, 2019


Description

Marcus & Millichap is pleased to present the opportunity to acquire a stabilized 9,062-square foot, two-tenant retail center located in a major retail corridor in Garland, Texas. Approximately 56 percent of the gross leasable area is leased to Don Arturo’s Cocina and Cantina, and the remaining 44 percent is leased to Sleep Experts. Sleep Experts has been at this location since 2005, and in 2017 extended their term for an additional ten years. Don Arturo’s is a new 10-year lease that includes three percent annual rent escalations. Both leases are triple-net and have options for renewal that include rent increases. Constructed in 1999, the building is situated on a large 2.4-acre lot with a concrete parking lot. The parcel includes room for a pre-approved 5,000-square foot retail building, providing future upside potential.

Shops at Garland is located on the south side of the President George Bush Turnpike (PGBT) near the intersection with Lavon Drive, benefiting from high traffic counts of approximately 74,690 vehicles per day on PGBT and 42,000 vehicles per day on Lavon Drive. Shadow anchored by Kohl’s and The Home Depot, the property has multiple access points from the turnpike feeder road, Lavon Drive, Naaman School Road, and Crist Road. The subject property is well-positioned in a dense retail corridor consisting of numerous national and local tenants, including Hobby Lobby, Mardel, Big Lots, Redline Athletics, Urban Air Trampoline Park, Spring Creek Barbeque, McDonald’s, Chili’s Grill and Bar, Best Buy, Party City. PetCo, Half Price Books, Lowe’s Home Improvement, At Home, Firehouse Subs, Christian Brothers Automotive, and others. Firewheel Town Center, a premier shopping, dining and entertainment destination, is directly across PGBT and features over 125 retail stores including Dillard’s, Macy’s, AMC Theatres, Barnes & Noble, and Dick’s Sporting Goods.

The city of Garland is in the heart of the Dallas-Fort Worth Metroplex, approximately 17 miles northeast of Downtown Dallas. Garland is second only to the City of Dallas in Dallas County by population and has easy access to downtown Dallas via public transportation, including two Dart Blue line stations and buses. While Garland is known as a hub for fabrication and manufacturing jobs, healthcare, technology and wireless communication round out the city’s economic diversity.


Year Built: 1999
Building Size: 9062.0sq ft
Lot Size: 2.4 acres

Map of 3315 North President George Bush Highway, Garland, TX, 75040

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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