Tenants Commitment to Center: Majority of the local tenants have been in the center for many years and even on month-to-month leases per landlord’s request showing commitment to center.
Upside Potential: Most the tenants are on Gross Leases leaving the opportunity for new owner to increase NOI moving them to traditional NNN leases. Generational Landlord. The family developed the original shopping center and have owned ever since.
Low Rents: Majority of tenants are paying below market rents and many on MTM gives the new landlord opportunity to increase rents to market rates.
Benbrook Growth: The population in a 5-mile radius grew over 15% from 2010-2022 and is expected to continue to grow over 1% annually through 2028.
AVG. HOUSEHOLD INCOME