GARLAND, Texas, March 23, 2017 /PRNewswire/ -- Firewheel Village, a 97% occupied net leased shopping center located within one of the strongest retail markets in the US, is now for sale by Tender Offer™ (offer deadline Thursday, April 27th). The 148,870 ft2 shopping center is home to 3 nationally recognized anchor tenants that boast outstanding credit (Hobby Lobby, Big Lots and Mardel), providing a potential investor with healthy cash flow security. All of the tenants at Firewheel Village have below market rental rates which, once their lease terms are up, can be marked to market.
Marty Cleckler, WestMark Commercial local property representative, states, "Given its close proximity to Firewheel Town Center (1,004,000 ft2 super regional outdoor mall with 125 stores) and its easy access to the President George Bush Turnpike (69,379 VPD), a potential investor can expect continual tenant success and desirability as a dominant retail destination." Marty adds, "This Tender Offer™ provides an investor the opportunity to immediately increase NOI and add-value by acquiring an existing, 97% leased shopping center with tremendous upside potential."
The Dallas / Fort Worth Metroplex is the largest urban agglomeration in Texas and the fourth-largest in the United States spanning an area of 9,286 mi2 and has a population of approximately 6.9 million people. Within 1 mile of Firewheel Village, the average household income is $87,469 (poised to reach almost $95,000 by 2021), significantly higher than the Garland average of $68,531. Within a few miles of the Property, 2016 brought over 2 million SF of net absorption in the retail market, showing extreme momentum and strength of retail in the property's trade area.
WestMark Commercial's partnership with the marketing minds at the Future of Real Estate (FRE) allows for a unique and forward thinking buying platform, Tender Offer™, that offers buyers;
- An easy way to research property documents and due diligence materials
- An easy way to submit / review offers from anywhere in the world
- A definitive sales date
- & Room for contingencies
FRE is owned and operated by the LFC Group of Companies. LFC has been marketing real estate around the world for over 35 years. Their online marketing programs are conducted in association with local real estate brokerages.
More information on this property and Tender Offer™ can be found at www.wmcbid.com/246R1
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/firewheel-village-for-sale-by-tender-offer-from-future-of-real-estate-300428218.html
SOURCE Future of Real Estate