Exclusive right to operate a tanning salon
Termination option effective if gross sales are < $500,000 between 2/16/17-2/15/18, with notice given within 90 days after 5th Lease year
Anytime Fitness has over two million members around the globe. This 24hour fitness center has cutting-edge strength training and cardio equipment. Additional services offered are tanning, personal training, classes, and wellness programs are other services offered at Anytime Fitness.
Hobby Town USA is the leading retail hobby and toy store. Hobby Town USA offers full line of radio control hobbies, models, games, toys, educational items, paints, tools and model railroad items.
Sleep Experts carries bedding products including mattresses, box springs, pillows and other bedding accessories. Sleep Experts is committed to their customers, their employees, and their community. Sleep Experts has been named a Best Place to Work by the Dallas Business Journal from 2010 - 2017.
• Included Land: This retail property comes with a development component, at no cost for the land. Per the attached site plan we estimate an 18,000 sf retail building can be built between the subject property and Target. At a rental rate of $12.00 NNN, we estimate additional income of $216,000 from this development.
• Target: Westover Village is located adjacent to a high performing Target. This location includes Targets’ P-Fresh grocery concept, which attracts a larger consumer base. Target is the 2nd largest discount store retailer in the US, doing nearly $70 billion in revenue in 2016.
• Desirable Trade Area: This stretch of Alta Mere has become the primary retail corridor in the immediate trade area. Along with Target, retailers such as Walmart, Sam’s Club, Lowe’s, Movie Tavern, Big Lots, Chick-Fil-A, Raising Canes, and Krispy Kreme, among others help to generate traffic around Westover Village.
• Exceptional Positioning with High Traffic Counts: Westover Village is positioned along Alta Mere Drive (State Highway 183) just north of Interstate 30. Alta Mere carries nearly 35,000 vehicles per day, while Interstate 30 carries over 115,000 vehicles per day.
• Westover Hills: Westover Hills is located immediately behind Westover Village. In 2014 Higley named Westover Hills the neighborhood with the 3rd highest average household income in DFW at $385,047, which is the 69th highest average household income for any neighborhood in the United States. This extraordinary neighborhood, with its rolling hills and mansions, is in part responsible for the explosion of retail along Alta Mere Drive.
• High Growth Surrounding Area: Since 2010 the trade area surrounding Westover Village has grown by an average of 12.04% within a 3 mile radius of the Property. That same area is expected to grow an additional 7.96% over the next 5 years.
• Naval Air Station: The Property is located adjacent to the Naval Air Station Joint Reserve Base, which employs over 11,000 people and helps generate traffic to the trade area and Westover Village.
• Below Market Rents: The average rental rate for the Westover Village’s Target Shadow Building is only $19 psf while likekind product in the immediate trade area is leasing from $20.00 to $30.00 psf.
* Development Opportunity: If an investor acquires the entire Westover Village portfolio they will receive five additional parcels of land that have all the necessary infrastructure and are ready for future development. This future expansion provides a buyer with potentially a total of 47,550 additional square feet of building to increase their revenue stream.
DOWNTOWN FORT WORTH
Burton Hills
Homes from $200k-$550k
Westover Hills
Homes from $950k-$5million
ALTA MERE DR
Ridgmar
Homes from $350k-$2.5million
Joint Reserve Naval Base
Over 11,000 Employees
Next closest retail trade area to the west is 25 miles away (Weatherford)
FORT WORTH, TX
The city of Fort Worth is often referred to as “Where the West Begins.” Fort Worth is the 17th-largest city in the United States of America and the fifth-largest city in the state of Texas. Located in North Central Texas, and covers nearly 350 square miles (910 km2) in Tarrant, Denton, Parker and Wise counties. According to the 2013 census estimates, Fort Worth had a population of 792,727. The city is also home to Texas Christian University, Texas Wesleyan University, University of North Texas Health Science Center, Texas A&M University School of Law, and many multinational corporations including Bell Helicopter, Lockheed Martin, American Airlines, American Airlines Group (and subsidiaries American Airlines and Envoy Air), the John Peter Smith Hospital, Pier 1 Imports, RadioShack, the BNSF Railway, and Lockheed Martin. In 2013, Fort Worth-Arlington ranked No. 15 on Forbes’ list of the Best Places for Business and Careers.
The Fort Worth Stockyards now celebrates Fort Worth’s long tradition as a part of the cattle industry and was listed on the National Register as a historical district in 1976. The listing included 46 contributing buildings and one other contributing structure.
The Stockyards consist of mainly entertainment and shopping venues that capitalize on the “Cowtown” image of Fort Worth. Home to the famous boot making company M.L. Leddy’s which is located in the heart of the Stockyards and The Maverick Fine Western Wear and Saloon where customers “can ‘belly up to the bar, relax and have a cold beer while in the Stockyards just like they did in the days of the big cattle drives”, as they shop around the store. Many bars and nightclubs (including Billy Bob’s Texas) are located in the vicinity, there is also an opry and a rodeo.
CONFIDENTIALITY AGREEMENT
The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.
This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.
