North Park Plaza
JUST LISTED: North Park Plaza | Mark-to-Market Opportunity – Avg Rent of $10.66 PSF
Investment highlights
Actionable Upside Potential – 8 tenants expire within 3-years with no options and below market rents. 47% of shop space is occupied by tenants with 10+ years of operating history at the center
Existing Rents are Substantially Below Market – North Park Plaza’s average rent is $10.66 PSF which is 54% below average market rent in North Richland Hills at $19.60 PSF (Source: CoStar Analytics)
Directly Across from 60,000 SF Albertsons Grocery Store
100% Occupied Center with an Excellent Synergistic Tenant Lineup – Internet resistant food & service tenants that offer high-quality goods & services to the surrounding area
Anchored by Planet Fitness on a New 10-Year Lease – Planet Fitness has over 20 million members across 2,700 locations worldwide. The lease is guaranteed by Excel Fitness, a prominent Franchisee who has been recognized as Franchisee of the Year and has over 160 Planet Fitness locations across nine states
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