Savers

11101 Pecan Park Boulevard, Austin, TX 78750

$4,389,200

Cap Rate 7.35%

Views: 14 DOM: 58 Updated: 04.22.24 Posted: 03.20.24 Status: Active

Summary

Price $4,389,200	Built/Renov 2002	Tenant Savers
Cap Rate 7.35%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 24,960	Lease Start 10-01-2017	#Units 321
Price/SF $175.85	Expiration 12-31-2028	Tenant Type General Retail
NOI $322,608	R. Term 4.7	Ownership Fee Simple
Rent/SF $12.93	Increases 10.0%/5/yrs	Pop 5Mi 224,580
Lot/AC 3.16	Options 1/5yrs/10%	AHHI 5Mi $140,974

Lease Highlights

Savers has 4+ years left on the current lease term with 1 (5-year) option to extend
The lease features 10% rental escalations throughout the initial term and option period
Favorable NN+ lease with landlord responsible for roof and structure
Corporate guarantee | Investment grade tenant

Location Description

Savers is strategically situated at the signalized, hard corner intersection of Pecan Park Blvd. and Lakeline Mall Drive, with access to a combined daily traffic count of 8,260 vehicles. The property intersects with U.S. Route 183 (89,253 VPD), a prominent thoroughfare located a quarter mile away. Additionally, it is positioned as an outparcel to the Lakeline Mall, with anchor tenants such as...

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Top 100 MSA
Strong demographics
Income tax free state
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Savers Wikipedia Savers Wikipedia Austin, Texas Zip Code 78750 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Savers
Guarantor:Corp T and Rated
Company:Ares Capital Corporation
# Units:321
Tenant S&P: BBB-
Moody’s: Baa3
Stock: NASDAQ: ARCC

About Tenant

Savers Value Village Inc. is the largest for-profit thrift operator in the United States and Canada for value-priced pre-owned clothing, accessories, and household goods, their mission is to...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	13,368	112,940	226,416
2023 Total Population :	12,151	110,130	224,580
2023 Employed Civilian Pop :	7,224	63,360	125,277
2023 Total Businesses :	798	4,839	8,472
2023 Average Household Income :	$ 106,690	$ 131,543	$ 140,974
2023 Total Consumer Spending :	$ 567 M	$ 5105 M	$ 10696 M
2023 Median Age :	36	36	36
2023 Total Households :	6,193	45,220	88,845
2023 Pop Age 25+: Bachelor's Degree :	3,256	30,072	59,577
2023 Average Home Value :	$ 426,269	$ 457,677	$ 489,683

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Lakeline Mall Dr	Research Blvd	2010	10,020	0.14 mi
Lakeline Mall Drive		2015	9,355	0.19 mi
Lakeline Mall Drive		2015	7,232	0.27 mi
Lakeline Mall Dr	Research Blvd	2010	7,150	0.32 mi
Pecan Park Blvd	Stonestop Blvd	2010	5,350	0.34 mi
US Hwy 183A	Hwy 45	2013	115,783	0.35 mi
TX 45;RM 620	Research Blvd	2021	12,392	0.35 mi
TX 45;RM 620	Research Blvd	2022	14,245	0.35 mi
Pecan Park Boulevard		2015	7,628	0.36 mi
183A Toll Road	Hwy 183	2020	104,920	0.39 mi

Listing Broker

Chris Bosworth

CBRE

Contact

121 Listings
5919 Views
43 Sold

Brian Pfohl

CBRE: NLP Atlanta

Contact

122 Listings
5960 Views
41 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLP Atlanta

Contact

125 Listings
6037 Views
44 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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