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 266,430 square feet of gross leasable area, situated on approximately 29.98 acres. The subject property features a diverse mix of tenants including national retailers such as Ross Dress for Less, Burlington, JC Penney, Marshalls, Cinemark, UIta and many others. The property is currently 92 percent occupied, 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 266,430 square feet of building space. Plaza Del Sol is the only major retail destination within a 50-mile radius.
- DIVERSIFIED RETAIL INVESTMENT WITH MULTIPLE REVENUE STREAMS
- Scheduled base rents, along with kiosk rentals, percentage rent, seasonal events, and REA income, contribute to a diversified revenue stream.
- VALUE-ADD INVESTMENT
- The mall is currently 92 percent occupied with several leases on month-to-month status, along with a mix of gross and triple-net lease terms, offering income growth potential.
- 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 draw significant foot traffic. Ulta's opening sales almost doubled the tenant's projections.
- RENEWED COMMITMENT FROM CINEMARK
- Landlord recently secured a five-year lease renewal with Tenant, coupled with Tenant'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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