Silverado Station
Retail | 51,170 SqFt
Marketing description
Cushman & Wakefield's Private Capital Group is pleased to present an exceptional opportunity to acquire the fee simple interest in Silverado Station, a 94.2% leased value add retail development that enjoys a prime location at the heavily trafficked intersection of N Loop 1604 and Bandera Road in the thriving Far Northwest submarket. Built in 2004, the 51,170 SF center is shadowed anchored by Santikos Silverado Theater and entertainment center, which attracts more than 300,000 visitors a year and was renovated in 2024. The center features a diversified tenant mix with built-in rent increases, delivering predictable income with the ability to mark to market as tenants roll. Over 45% of the tenants have been at the center ten years or longer, demonstrating the desirability of the center and the strength of its location. The offering includes the option to purchase the adjacent 2.85 acre pad site.
Investment highlights
- The center was developed and has been meticulously maintained by current ownership, resulting in an exceptionally well maintained property
- Nearly 46% of tenancy has been in the center 10 years or longer and over 41% have been in the center 15 years or longer, highlighting the desirability of the center
- The property delivers reliable cash flow with minimal risk driven by high occupancy, built-in rent increases and NNN lease structure
- The center blends experiential entertainment, food and daily needs retail, driving consistent cross-traffic
- With existing rents 30% below the market rates, the property offers a compelling opportunity to capture upside as the local market continues its rapid growth
- Positioned in the thriving Far Northwest submarket, the center sits at the heavily trafficked intersection of N Loop 1604 and Bandera Road, where daily traffic surpasses 120,000 vehicles
- Shadow anchored by the Santikos Silverado Theater and entertainment center which draws over 300,000 visitors a year
- Adjacent to major regional retail nodes including HEB Plus and Bandera Pointe anchored by Kohl's, Ross, TJ Maxx and Ulta
- The Far Northwest submarket is one of the best performing submarkets in terms of average rent and rental growth and boasts an average occupancy of 96.9%
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