ACADEMY SPORTS

1711 E Broad St, Mansfield, TX 76063, USA
$9,737,000

Description

Property Highlights

• Brand New 15-Year Net Lease to Academy Sports + Outdoors
– Scheduled $0.50/PSF Rental Escalations Every 5 Years
– Sustainable Rent Per Square Foot at $9.50/sf
– High Sales Per Unit Operator
• Brand New 2018 Construction in Growing Shopping Center & Mixed-Use
Development
– Expected to Include Up to 500,000 SF of Retail Space and 310
Residential Units
• Excellent Visibility at US-287 Junction – 53,719 Combined AADT
• Ideally Situated Within Primary Retail and Commercial Corridor
• Adjacent Athletic Facilities and Tenants Will Drive Strong Demand
– Fieldhouse USA is Expected to Draw 1.2 Million Annual Visitors
– Dr Pepper StarCenter Skating Rink Projects 400,000 Visitors per Year
• Strong Co-Tenancy Within Center
– Anchor Tenants include Belk, At Home, TJ Maxx, Flix Brewhouse, and
more
• Robust, Affluent Demographics in Surrounding Area
– Average Household Income of $153,879 Within 1 Mile of Site
– Household Income has Increased 11.1% within 5 Miles From 2015-2016
– Population of 139,508 in Five Mile Radius
• Ideally Situated in Rapidly Growing Dallas-Fort Worth Area Suburb
– 2010-2017 Annual Rate of 9.26%
– 6,475 New Homes Planned within 5 Miles of Site
– Ranked 17th On CNN/Money Magazine’s 2016 “Best Places to Live”
• Dallas-Fort Worth MSA is Among the Largest in the World
– Population of Approximately 7.4 Million
– Real GDP Exceeds $511 Billion
• Approximately 30 Minutes’ Drive from Downtown Dallas and Fort Worth

 

The Investment

The subject property offers the unique opportunity for an investor to acquire
an ease-of-management net lease parcel within a growing shopping center
development within one of the strongest trade areas in the U.S. The property is
situated within a robust retail corridor serving an affluent and rapidly growing
trade area within the Dallas-Fort Worth Metroplex region. The asset benefits
from close proximity to dominant retail centers, the US-287 arterial which
serves as a major commute route into Fort Worth, and a strategic constellation
of complementary tenants and uses, expected to draw at least 1.6 million
visitors annually, driving both traffic and demand. With excellent access and
exposure at the junction of East Broad Street and US-287 (combined AADT
53,719), robust and affluent demographics surrounding the site, and a strategic
location within the fourth-largest MSA in the U.S, an investor will capitalize on
asset appreciation and scheduled increases in income with this property.

Location

The property is located at 1711 East Broad Street in Mansfield, Texas.

Lot Size

Approximately 5.8 acres, or 252,648 square feet.

Improvements

Construction was completed in 2018 of a 71,743 square foot retail building for
Academy Sports + Outdoors.

Parking

There is ample parking available onsite.

Lease

Leased to Academy, LTD. for fifteen years from a rent commencement date
of October 15, 2018 through February 1, 2033 at an initial annual rent of
$681,558. There are three (3) five-year options to renew the lease. Rent is to
increase by $0.50 per square foot in years 6, 11, and at the start of each option
period. The lease is net with tenant responsible for all taxes, insurance, and
maintenance, including maintenance of common areas within the tenant’s
parcel but excluding roof and structural elements.

Property Documents

Detail

  • Icon
    Property Size
    10386 Sq Ft
  • Icon
    Year Built
    2010-04-02

Address

  • Address: 1711 E Broad St | Mansfield, TX
  • City: Mansfield
  • State/county: Texas
  • Zip/Postal Code: 76063
  • Country: United States

Video

Additional details

  • Additional Info 1: 2,350
  • Additional Info 2: Yes

Contact Agent

Andy Sutton
  • Andy Sutton
  • 404.429.8566
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