Listed by TSCG The Shopping Center Group Atlanta
$2,596,000
Skechers Two-Tenant Retail Investment
Details
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 9,372
Units 51
Cap Rate 7.55%
NOI $196,065
Occupancy 100%
Tenancy Multi
Lease Type NNN
Lease Term 10
Remaining Term 6
Rent Bumps Yes
Lease Options 3 x 5-Years
Price per SqFt $277
Broker Co-Op True
Year Built 2004
Acreage 0.990
Parking Spaces 48 spaces
Parking per 1,000 SqFt 5.12
Investment Type Stabilized
Ground Lease No
Target & Ross Outparcel | Direct I-20 Exposure | 7.55% CAP
Marketing description
This two-tenant retail investment, occupied by Skechers and Squires Formalwear, is strategically positioned as an outparcel to Pecanland Commons within Monroe’s dominant 43M SF retail corridor along I-20 (111,388 VPD). The site is adjacent to the 964,123 SF Pecanland Mall, the only regional mall within a 90-mile radius, and is surrounded by a strong lineup of national retailers including Target, Walmart Supercenter, Sam’s Club, Lowe’s, Home Depot, Best Buy, TJ Maxx, Ross, and Dick’s Sporting Goods. The property also fronts a 250,000 SF Target and Ross anchored center with over 2.3M annual visits, offering excellent visibility and access in the region’s primary retail hub.
Investment highlights
HIGH-TRAFFIC STABILITY AT PECANLAND COMMONS
- Located within the 43M SF commercial and retail district situated along I-20 in Monroe, Louisiana.
- Adjacent to 964,123 SF Pecanland Regional Mall, with 83 stores and services (the only regional mall within 90 miles of Monroe, LA).
- Significant retail tenants in the immediate area, including: Pecanland Mall, include Belk, Dillard’s, Dick’s Sporting Goods, JC Penney, American Eagle, Old Navy, Target, Ross Dress for Less, Sam’s Club, Lowe’s, Home Depot, Best Buy, TJ Maxx, Michael’s and Walmart Supercenter.
- Below market rents for an outparcel situated off I-20 (59,012 VPD), direct exposure fronting 250,000 SF Pecanland Commons, anchored by Target and Ross Dress for Less, experiencing 2.3M visitations in 2025.
- Skechers has successfully been conducting business in this location since 2022. Strong sales with a 4.6% increase in sales for 2025.
- Squires Formalwear has 30 months remaining in their lease term. Skechers has a ROFR to take over the Squires premises should they not renew.
MAIN ROAD ACCESS & CONNECTIVITY
- Located just one minute from I-20 via Byers Drive, providing effortless regional access and high-profile freeway visibility.
- Ideally situated at the corner of Pecanland Mall Drive and Powell Avenue, the property benefits from a steady flow of 59,012 vehicles passing by each day on the I-20 corridor.
- Immediate proximity to major arteries like US 165 and LA-15 makes it an easy trip for customers across the entire trade area
AREA ECONOMIC INFLUENCES
- Meta Platforms has reached an agreement with Entergy Louisiana to fund $41 B in infrastructure for a new $27B, 4 million SF data center 30 miles east of Monroe, LA near I-20, which will be one of the largest data centers in the US. The construction is expected to employ over 5000 workers through 2029. This will support significant economic growth throughout the Monroe, LA metro area.
- Close proximity to educational institutions like University of Louisiana at Monroe (9,291 students), Louisiana Delta Community College (3,815 students), and local high schools adds incremental frequent foot traffic.
- The Downtown RiverMarket is local destination that hosts events and draws community traffic.
Listing Contacts
Listed by TSCG The Shopping Center Group Atlanta
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$196,065.00
$16,338.75/mo
Valuation Metrics
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DSCR
7.55%
Cap Rate
7.55%
ROI
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