Hobby Lobby anchored shopping center, with term through 2026
Hobby Lobby ‘21 sales of $12.7mm/ $222psf is in the upper percentile within the chain
YTY Hobby Lobby sales increase of 22.15%
Hobby Lobby health ratio of 3.04% is extremely low for a big box retailer
True Value recently committed to a 10-year term with a 10% escalation in years 6-10
dd’s Discounts backed by Ross Stores with term through 2026
89% of revenue is from National Tenants
Upside through lease up of the 22,502 SF in vacancy
Leases are staggered and expire incrementally through 2031
National and Regional tenants make up 80% of the GLA
Opportunity for investor to acquire the asset at well below replacement cost
At or below market rents with limited supply within the market
Drug Emporium recently renewed for 5 years
THE HIGHLIGHTS
Dense retail corridor – Major retailers include Target, Walmart, Lowes, Home Depot, Tractor Supply, Dick’s, Academy Sports, Burlington, JC Penny, Dillards, and H-E-B
Great visibility and accessibility from three heavily traveled corridors
Traffic counts on N Valley Mills Dr and Bosque Blvd equal 35,918 cars daily
Located in the primary retail node of the West Waco market
Asset benefits from continued growth of Baylor University
Within 6 miles of Baylor University, home to over 19,300 full time students