Hulen Pointe
90% Occupied Community Center : Shadow-Anchored by Top Performing Walmart : Includes 1 Pad Site
Marketing description
Marcus & Millichap is pleased to offer the opportunity to acquire a 139,921-square-foot, multi-tenant community center located in Fort Worth, Texas. The center is currently 92 percent occupied, with 48 percent of the gross leasable area under triple-net leases, providing future upside potential. Anchored by a new 10-year lease with Amped Fitness, AW Outlet, and Dollar Tree, the tenant base is a complementary mix of largely internet-resistant businesses, including 3D Smokehouse, Marco's Pizza, Hulen Smiles, Dickie's BBQ, Barbershop, Octopharma Plasma, Glamor Wigs, Feng Cha, Amazing Nails, MaharaJa Indian Restaurant, Great Clips, OK Food Mart, Elegance Events, Massage, Jerusalem Market, Lash Supply, Cru Restaurant, and others. The buildings are situated on a large 9.98-acre parcel with ample paved parking, and a double-sided monument sign faces Hulen Street providing additional exposure to the center. Landlord reports a new roof was installed on all buildings in 2022 with a 20-year warranty.
Hulen Pointe is located on Hulen Bend Boulevard at the signalized intersection with South Hulen Street just less than a mile of Chisholm Trail Parkway. Cumulative traffic counts exceed 65,177 vehicles per day. Hulen Pointe is in close proximity with Hulen Mall, a diverse-scale shopping mall in southwest Fort Worth. Hulen Mall features more than 127 specialty shops and stores and is anchored by Macy's and Dillard's. The center is located in a dense retail trade area, neighbored by numerous national and regional tenants including Haverty's Furniture, Fitness Connection, Mardel Christian & Education, ALDI, AutoZone Auto Parts, Half Price Books, Floor & Decor, Men's Wearhouse, Guitar Center, Uptown Cheapskate, Total Wine & More, Hobby Lobby, and many more. The property is well positioned to serve a dense residential area with a population exceeding 262,497 residents within a five-mile radius, and an average household income of $93,147 within a three-mile radius, and $90,462 within a five-mile radius.
Investment highlights
- 139,921-Square-Foot Community Center Located in a Prime Retail Trade Area of Fort Worth
- Shadow-Anchored by a Top-Ranking Walmart | Drives 3 Million Visits Annually and Ranks in the 90th Percentile in the Nation Based on Traffic (Source: Placer.AI)
- Value-Add Opportunity | 90% Occupied | 48% are Triple-Net Leases
- Landlord Invested $2.5 Million on a New Roof over Entire Center in 2022 with a 20-Year Roof Warranty
- Anchored by Amped Fitness, AW Outlet, and Dollar Tree
- Strong Dollar Tree Anchor (NASDAQ: DLTR) Ranks in the 96th Percentile in the State and Nationwide Compared to Other Dollar Tree Stores (Source: Placer.AI) | Tenant Recently Exercised an Early Renewal Option, Extending Through 2034
- Additional Pad Site Income from a New 10-Year Lease for Robo Taxi
- Adjacent to AMC Theaters (Not a Part) | Available for Separate Purchase | Inquire with Agent for Details
- Diversified Tenant Base Featuring a Mix of National, Regional and Local Retailers that are Largely Internet-Resistant Businesses
- Current Average Rents are Well Below Market
- Signalized Hard-Corner Intersection of Hulen Bend Boulevard and South Hulen Street | Cumulative Traffic Counts Exceed 65,175 Vehicles per Day
- One Mile South of Hulen Mall | 127+ Specialty Shops and Anchored by Macy's and Dillard's
- Well Positioned to Serve a Densely Populated Area of Fort Worth | 262,497 Residents within Five Miles | Average Household Income is $90,462
- Priced at $223 Per Square Foot
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