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Jones Lang LaSalle Americas, Inc. (JLL) is pleased to exclusively present the rare opportunity to acquire the fee simple interest under Gateway Plaza, with a long term ground lease to a publicly traded REIT, located in Southlake, Texas at one of Dallas Fort-Worth’s most highly sought after intersections: State Highway 114 and Southlake Boulevard. The land is currently improved by a diverse 365,266 square foot shopping center, comprised of a rolodex of anchor tenants including Kohls, Bed Bath & Beyond, TJ Maxx, Old Navy and Buy Buy Baby. This project is subject to an existing ground lease with 54.3 years remaining (expiration December 2074), providing the investor with contractually increasing stable cash flow.
The irreplaceable real estate is located at the intersection of Southlake Boulevard and State Highway 114 in DFW’s demographic leading submarket, Southlake, Texas. The site is located 1.4 miles from Southlake Town Center and is in close proximity to the major thoroughfares of DFW (SH-114, SH-121, I-35, and I-635) as well as the large corporate campuses of Deloitte, Charles Schwab and Fidelity Investments, among others. Dallas-Fort Worth ranks as one of the top MSA’s in the country for job creation and projected population growth; the opportunity to acquire the fee simple interest under Gateway Plaza at the epicenter of one of the country’s fastest growing cities presents a truly rare generational opportunity.
· 54.3 years remaining (expires December 2074)
· $1,881,715 current annual rent with 12% increases every five years
(next rent bump: Jan-24, $2,107,521)
· 38.64 acres
· Best-of-the-best demographics
· #1 MSA for projected population growth
· Stable, increasing cash flow stream