Investment Highlights
Prominent Shopping Center with Powerful Grocery Anchor Draw.
At 100% leased, Lake Forest Marketplace is strategically located at the southwest corner of U.S 380/University Drive and Lake Forest Drive in McKinney, Texas. Built in 2018, Lake Forest Marketplace is 37,500 square feet with two (2) buildings and 14 tenants, and the center is shadow anchored by a high- volume 123,000 square foot Kroger Marketplace. Internet-resistant tenants include Pet Supplies Plus, Athletico, UPS Store, Jersey Mike’s Subs, CycleBar, Great Clips, Mod Pizza, Floyd’s 99 Barbershop, The Joint Chiropractic and many others. Lake Forest Marketplace directly benefits from numerous adjacent, high traffic outparcels including Chick Fil A, Chipotle, Starbucks, Wendy’s, McDonalds, and Chase Bank.
Durable Rent Roll with Compelling Rent Growth Profile.
Over a 10-year hold period, the compound annual growth rate exceeds 2.1% based on organic rent growth and using conservative market lease rate assumptions. Over 72% of the existing tenants signed ten (10) year leases with significant rental increases during the lease terms and renewal options. The remaining average lease term (WALT) is 7.3 years. Average annual base rent is $31.46/SF which is considered well-below market for comparable high-quality retail centers in similar markets.
Excellent Access and Visibility.
Lake Forest Marketplace maintains exceptional visibility from both thoroughfares and sits at a key signalized intersection in McKinney. There are five (5) access points around the perimeter of the shopping center including a carefully designed, signalized access road that crosses U.S. 380 and directly connects to Baylor Scott & White Medical Center - McKinney with more than 1,019 medical staff members and 744 employees.
Exceptional Demographic Profile and Traffic with Strong Daytime Population.
Within a 3-mile radius of Lake Forest Marketplace, population exceeds 75,018 residents with average household incomes exceeding $127,612 with annual population growing 46% over the last ten (10) years. Within a 5-mile radius, population exceeds 205,979 residents with average household incomes exceeding $117,803.
Unencumbered Asset.
Lake Forest Marketplace is being offered free and clear of any existing debt.
Site Plan
* Click to expand
Demographics
* Click to expand
