Plaza Del Sol
Value-Add Regional Community Center : 92% Leased : National Credit Anchors : Del Rio, TX
Marketing description
Plaza Del Sol Mall is a well-established regional shopping center located at 2205 Veterans Boulevard, Del Rio, Texas. The property encompasses a total of 266,497 square feet of gross leasable area, situated on approximately 28.18 acres. The subject property features a diverse mix of tenants including national retailers such as Ross Dress for Less, Burlington, JC Penney, Marshalls, Cinemark, Ulta and many others. Upon completion of the pending Boot Barn lease and associated tenant relocations, the property will be approximately 96 percent leased, with a diversified income stream and significant value-add opportunities. Plaza Del Sol Mall benefits from its strategic location in a high-traffic area, driving more than 3.6 million visits annually (source: Placer.AI).
Plaza Del Sol is positioned in a vibrant commercial corridor along Veterans Boulevard with a strong daily traffic count of approximately 26,000 vehicles per day. Plaza Del Sol is the only major retail destination within a 50-mile radius. The center is easily accessible from multiple surrounding roads, enhancing its appeal to both local and regional shoppers. Adjacent pad sites include IHOP, Chick-fil-A, Starbucks and Holiday Inn Express. These pad sites are not a part of the offering, but they do pay Landlord reimbursements per an REA agreement. Numerous national tenants are in close proximity, including Walmart, The Home Depot, Ollie's Bargain Outlet, Dollar Tree, Harbor Freight, Chili's, Planet Fitness, and many more. The subject property is less than three miles from the Del Rio International Airport.
Investment highlights
RARE OPPORTUNITY TO ACQUIRE THE ONLY REGIONAL RETAIL CENTER
Plaza Del Sol Mall represents a prime opportunity to acquire a well-located regional retail asset comprised of 266,497 square feet of building space. Plaza Del Sol is the only major retail destination within a 50-mile radius.
PENDING LONG-TERM BOOT BARN LEASE INCREASES OCCUPANCY TO 96%
Landlord is finalizing a long-term lease with Boot Barn for approximately 12,583 SF, including the relocation of Bath & Body Works and By Edward Bridal. The leasing initiative increases occupancy to approximately 96%, enhances the tenant mix, and strengthens long-term cash flow.
DIVERSIFIED RETAIL INVESTMENT WITH MULTIPLE REVENUE STREAMS
Base rents, kiosk rentals, percentage rent, seasonal events and REA income provide multiple revenue streams.
STABILIZED INCOME WITH MULTIPLE PATHS TO NOI GROWTH
Following the pending Boot Barn lease, the property will be approximately 96% leased while continuing to offer meaningful upside through lease-up of the remaining vacancy, conversion of select gross leases, and repositioning of month-to-month tenants as opportunities arise.
UPSIDE POTENTIAL WITH DEVELOPING PAD SITES AND ABILITY TO SPLIT OFF MCALISTER'S DELI PARCEL
The offering includes two pad site opportunities (a 1.18-acre parcel and a 0.62-acre parcel) for future development. Also, McAlister's Deli currently leases a 6,208-square foot building situated on a separately parceled 1.52-acre lot that could be sold separately.
STRONG ANCHOR TENANTS
The property is anchored by national retailers such as Burlington, JC Penney, Ross Dress for Less, Cinemark and Marshalls, ensuring a stable, long-term income stream. Five Below, Ulta, Rack Room Shoes, Bath & Body Works and Zales add to the national tenant mix, creating a diverse mix that draws significant foot traffic. Ulta's opening sales almost doubled the tenant's projections.
RENEWED COMMITMENT FROM CINEMARK & MARSHALLS
Landlord recently secured a five-year lease renewal with both Tenants, coupled with Cinemark's plan to invest $150,000 in theatre improvements including restroom upgrades and carpet replacement, exhibiting continued commitment to this location.
LOCATED ALONG THE U.S.-MEXICO TRADE CORRIDOR
Del Rio is connected with Ciudad Acuña via the Lake Amistad Dam International Crossing and Del Río – Ciudad Acuña International Bridge. The trade area population for Del Rio and Ciudad Acuña is more than 272,800 people.
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