Investment Highlights
Exceptional Value-Add Investment Opportunity.
Currently 86% leased, Lakepointe Towne Crossing offers an investor significant upside potential resulting from the strategic and timely lease-up of 28,718 square feet of vacant, small shop space. Lakepointe Towne Crossing is a 197,503 square foot power center that includes national credit anchor tenants on new, longterm leases with DICK’s Sporting Goods, JOANN, buybuy BABY and pOpshelf. At lease-up and based on acquisition pricing, the property’s capitalization rate is projected to be more than 225 basis points higher upon stabilization using conservative leasing assumptions. Additionally, an investor could acquire this shopping center at a significant discount to replacement cost.
Durable Cash Flow with Tremendous CAGR.
Shadow-anchored by Target since 2003, Lakepointe Towne Crossing was successfully re-tenanted with its newly opened national anchor tenants beginning in 2021. These tenants are the driving force behind repeat customer trips to the center, and this Target location is the only Target store within a 5+ mile radius of the shopping center. Based on a 5-year hold period, Lakepointe Towne Crossing provides a supersized compound annual growth rate (CAGR) of 6.1%.
Prime Location in Super Regional Trade Area.
Lakepointe Towne Crossing is located at the northeast corner of Interstate 35 and Hebron Parkway with more than 239,519 vehicles per day passing by the center. Interstate 35 has been widened to the south of the subject property from the Sam Rayburn Tollway/SH 121, and this widening has continued to bring in additional traffic to the intersection and the shopping center. Lakepointe Towne Crossing sits across I-35 from Music City Mall, the area’s only enclosed shopping destination featuring more than 1,000,000 square feet of retail space and 100 tenants.
Compelling Demographic Profile.
Average household income levels and population growth within the 1-3-5-mile radii are very attractive. Population growth within a 1-mile radius exceeded 35% from 2010-2022 with incomes averaging $84,975. Average household incomes within a 3-mile radius and 5-mile radius exceed $115,068. Total population within 3-mile and 5-mile radii includes more than 94,967 and 242,169 people, respectively.
Excellent Visibility and Access.
Lakepointe Towne Crossing has direct visibility and access along I-35 and Hebron Parkway with convenient ingress and egress throughout the center including eight (8) points of access. This institutional quality asset has been well-maintained by the current ownership and includes five (5) large multi-tenant pylon signs around the perimeter of the shopping center.
Unencumbered Asset.
Lakepointe Towne Crossing is being delivered to the marketplace free and clear of any existing debt.
Site Plan
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Demographics
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