FOR SALE 8,550 SF West Park Plaza Texarkana, Texas $1,395, % CAP

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Hilda Bradley
5 years ago
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FOR SALE 8,550 SF West Park Plaza Texarkana, Texas $1,395,000.00 8.5% CAP Alan F.

1 FOR SALE 8,550 SF West Park Plaza Texarkana, Texas $1,395, % CAP Alan F. Schimming - Principal Broker 6004 Summerfield Dr., Ste. B Texarkana, TX alan@schimmingcompany.com

5 EXECUTIVE SUMMARY Schimming Company Commercial Real Estate ( Schimming Company ), has been exclusively retained by the Owner to offer for sale a portion of West Park Plaza (the Center ), a four tenant strip center (the Property ), located at West Park Blvd, Texarkana, Texas fronting on Interstate 30. The Property is an 8,550 SF strip center situated on.546 +/- acres and being part of a 53,500 SF shopping Center. The Property is 100% leased and is tenanted by Golf USA, Tobi s Salon, Dogpatch Pet Shop and Texarkana Pro Sound. The Center is anchored by Lafferty s Home Center and Osaka s Japanese Steakhouse. The Center is well identified by a pylon sign located at the SW corner of the Center which offers great visibility from I -30. There are upwards of 82,000 VPD that pass this location on I-30. Located just east of the Center is Richmond Ranch and The Texarkana Pavilion comprising approximately 800,000 SF of retail space. Major national/regional retailers and restaurants in the area include: * Bed, Bath & Beyond * TJ Maxx * Old Navy * Best Buy * Home Depot * Outback Steakhouse * Target * Cinemark 14 * Office Depot * Sam s Club * Lowe s * Chili s * Ivan Smith Furniture * WalMart Supercenter * Hank s Fine Furniture * Albertson s * Hobby Lobby * Olive Garden * On The Border * Buffalo Wild Wings * Texas Roadhouse * Ruby Tuesday s * Longhorn Steakhouse * Cracker Barrel The area along I-30 west of Richmond Road is the coming growth corridor of Texarkana as attested by plans for a major hospital and clinic development on a 50 +/- acre tract of land directly north of the Center. Such a development just across the street north of the Center will provide a great deal of traffic and increased activity and development in the immediate area. The above information was obtained from sources believed reliable; however, Schimming Company makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property for sale, rent or exchanges is submitted subject to errors, omissions, change of price or conditions, prior sale or lease or withdrawal without notice.

The above information was obtained from sources believed reliable; however, Schimming Company makes no guarantees, warranties or representations as to the completeness or accuracy

13 The above information was obtained from sources believed reliable; however, Schimming Company makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation of this property for sale, rent or exchanges is submitted subject to errors, omissions, change of price or conditions, prior sale or lease or withdrawal without notice.

14 LOCATION MAP

15 West Park Plaza CITY LOCATION MAP

CITY AND AREA INFORMATION TEXARKANA, USA: Texarkana, TX - Texarkana, AR MSA is a two-county region anchored by the twin cities of Texarkana, Texas and Texarkana, Arkansas, and encompassing the

16 CITY AND AREA INFORMATION TEXARKANA, USA: Texarkana, TX - Texarkana, AR MSA is a two-county region anchored by the twin cities of Texarkana, Texas and Texarkana, Arkansas, and encompassing the surrounding communities in Bowie County, Texas and Miller County, Arkansas. As of the 2010 census, the MSA had a population of 136,027. Texarkana is a major transportation hub being centrally located between Dallas - Ft. Worth, TX (175 miles west) and Little Rock, AR (150 miles east) on I-30. Shreveport - Bossier City, LA is located 75 miles south by the recently completed leg of I-49. Eventually I-49 will connect New Orleans, LA to Kansas City, MO going right through Texarkana. The projected I-69 corridor would connect Laredo, TX to Houston and eventually to the Canadian border via Indianapolis and shows Texarkana as either part of the primary route or as a spur. Other major transportation routes going through Texarkana include US 59, US 67, US 71, US 82 and Texas State Hwy Loop 151 and Arkansas Loop 245. Texarkana has had a great deal of commercial activity within the past few years particularly with new hotels brands, numerous restaurants and retail activity. New restaurants include On The Border, Olive Garden, Cracker Barrel, Outback Steakhouse, Texas Roadhouse, Applebee s, Longhorn Steakhouse, Red Lobster, McAlister s, Buffalo Wild Wings, Hooters, Silver Spur Texas Grill, Ruby Tuesday s and Steak n Shake. Hotels that have recently located in Texarkana include Fairfield Inn & Suites by Marriott, Hampton Inn and Suites, Holiday Inn Express, Candlewood Suites, TownePlace Suite by Marriott, Comfort Suite, Country Inn & Suite, Courtyard by Marriott and the recently completed Residence Inn. The 20,000 square foot Texarkana Convention Center, with a 12,000 square foot ballroom was completed in October, Texarkana is a regional hub for cities in Southwest Arkansas, Northeast Texas, Northwest Louisiana and Southeast Oklahoma. WEST PARK PLAZA TEXARKANA, TEXAS

CITY AND AREA INFORMATION cont d TRAFFIC GENERATORS: Central Mall, the only enclosed mall within a 75 mile radius, is approximately 1 mile east of the property and is anchored by Dillard s, JC Penney

The new Texas A&M University at Texarkana (TAMU) campus located at Bringle Lake northwest of the subject property will provide further growth opportunities for the area along I-30 frontage roads.

17 CITY AND AREA INFORMATION cont d TRAFFIC GENERATORS: Central Mall, the only enclosed mall within a 75 mile radius, is approximately 1 mile east of the property and is anchored by Dillard s, JC Penney and Bealls. The new Texas A&M University at Texarkana (TAMU) campus located at Bringle Lake northwest of the subject property will provide further growth opportunities for the area along I-30 frontage roads. The City of Texarkana, Texas has partially completed a boulevard type street connecting Summerhill Road and the TAMU campus. The 375 acre campus first phase, a 42,000 sq. ft. Science & Technology Building was completed in 2008 and a four story 183,000 sq. ft. University Center was completed in July, Bringle Lake Village, a 294-bed, 86,000 sq. ft. oncampus living facility was added in The residence hall will enhance campus life at A&M - Texarkana and expand the university s outreach across the four state region. Currently under construction is a 42,000 SF, $12.1 million Student/Recreation Center with regulation basketball court, a training and fitness center, biomechanics and motor skills lab, café, two multi-purpose classrooms, offices and conference rooms. Just recently announced by Texas A&M Board of Regents is funding for a 58,000 SF facility for nursing and STEM (Science, Technology, Engineering and Mathematics), programs. The emphasis on higher education bodes well for Texarkana as the community is working to provide a well educated and productive workforce.

18 Demographics

19 Demographics

VIII. INFORMATION ABOUT BROKERAGE SERVICES

VIII. INFORMATION ABOUT BROKERAGE SERVICES TABLE OF CONTENTS I. ELEVATION SITE PLAN & CONCEPTUAL II. AERIAL OVERVIEW III. PROPERTY INFORMATION IV. LOCATION MAPS V. CITY AND AREA INFORMATION VI. DEMOGRAPHICS VII. DISCLAIMER AGENCY DISCLOSURE VIII.