Broker of Record Kyle Matthews License No. 9005919 (TX) Matthews Retail Group, Inc. 841 Apollo Street. Suite 150, El Segundo, CA 90245 (310) 919-5757
Long-Term Operations at this Location – The tenant has been operating at this location for 20+ years. In 2016, Academy Sports exercised their option, showing a strong commitment to this location.
Top 5 Largest MSA in the Country – North Richland Hills is located in the Dallas-Fort Worth-Arlington MSA, the 4th largest metropolitan statistical area in the country. The Census Bureau population estimates show Dallas-Fort Worth – Arlington had the largest growth in the United States with a population increase of nearly 150,000.
Heart of Dallas Fort Worth – North Richland Hills is a mid-to-high end suburb that sits north of Arlington, between Dallas and Fort Worth. There are over 100,000 residents in the 3-mile radius and nearly 300,000 in the 5-mile radius.
Purchase at Replacement Cost – The property is priced near replacement cost at just ± $122 PSF on the building and ± $19 PSF on the land. In addition, the tenant is only paying slightly more than $10 PSF in rent which can provide upside at the end of the lease.
Strong Real Estate Location – The property is located on Interstate 820, with nearly 150,000 vehicles per day passing by the location. The property sits next two multiple car dealerships and between two large retail hubs to the east and west of the property.
Absolute NNN Lease with Increases – Academy Sports operates under an absolute NNN lease with zero landlord responsibilities. In addition, there are 3, 5-year options with 10% increases in the option periods.