TIC Opportunity: Watauga Towne Center, 8420 - 8448 Denton Highway, Watauga, TX 76148

Here's a terrific Credit-Tenant Grocer-Anchored Shopping Center investment opportunity in Ft.Worth. You can expect 7-8% cash on cash return without the huge risks involved in single tenant retail!

Minimum TIC Investment: $250,000

Watauga Towne Center is a grocer-anchored neighborhood shopping center featuring 65,280 square feet of gross leasable area and is located on Denton Highway (US Highway 377), the major north-south traffic artery in Watauga, Texas. Situated at a main retail intersection with significant visibility, the property has access via three bordering thoroughfares in a high-income and rapidly-growing trade area.

Watauga Towne Center is a quality asset built in 1999. It is anchored by a separately-owned Albertsons grocery store that is not a part of the offering. Watauga Towne Center includes two multi tenant retail buildings located on either side of Albertsons and four freestanding buildings situated on pad sites fronting Denton Highway and North Tarrant Parkway. The property is currently 95.71% leased to 29 tenants. Notable tenants include ACE America's Cash Express, Blockbuster, CitiFinancial, Eyemasters, Great Clips, GNC, H&R Block, LAWeight Loss, Panda Express, State Farm, Washington Mutual, Wendy's and Wingstop.

Watauga Towne Center is located in a suburb in one of Dallas-Fort Worth's fastest growing residential areas. The property is strategically situated amidst a high concentration of national “big-box” retailers. These national retailers create a high volume of consumer traffic, which may benefit Watauga Towne Center. Other national retailers within half a mile of Watauga Towne Center include Bed Bath & Beyond, Home Depot, Kohls, Linens ’N Things, Marshall's, Michaels, Office Depot, Party City, Petco, PetsMart, Pier 1, Ross, Sports Authority, Staples, Super Target and World Market. This concentration of retailers, occupying over 1 million square feet, reflects considerable trade area demand.

The highlights of this project include the following:

• $16,086,000 acquisition price
• $7,171,166 equity investment
• 7.05% CAP rate
• 7.15% year one cash-on-cash yield (pro forma)
• 7.51% 5 year average yield
• 8.64% 10 year average yield
• Currently 95.7% leased
• Built in 1999
• Shadow Anchored by Albertsons and Savon (not a part “NAP” of the offering)
• Situated along the most heavily traveled roadway in the trade area (Source: Texas Department of Transportation)
• Having grown 32% over the last five years, the current population within a 3-mile radius of the property exceeds 110,000 people and
  is projected to reach 135,500 by 2011 (Source: Claritas, Inc.)
• The estimated 2006 average household income is $98,000, greatly exceeding Local, State and National averages (Source: Claritas, Inc.)

Please contact me for a complete marketing package for this investment oppportunity.