Vista Ridge Centers

Investment Highlights

Tremendous Value-Add Investment Opportunity.

At 69% occupancy, Shops at Vista Ridge and Vista Ridge Plaza offer an investor significant upside potential resulting from the strategic and timely lease-up of the existing space. More than 91,000 square feet of prime retail space can be backfilled within the centers creating a considerable investment arbitrage with an opportunity to significantly enhance cash yields and overall investment returns. With 31% of the shopping centers vacant, an investor will have the opportunity to acquire these assets at a significant discount to replacement cost.

Prime Location in Super Regional Trade Area.

Shops at Vista Ridge and Vista Ridge Plaza are located at the signalized hard corners of FM 3040 (Round Grove Rd.) and McArthur Blvd located just west of Interstate 35. With excellent visibility and access, the centers directly benefit from more than 86,387 vehicles passing by daily and also benefit from an additional 184,676 cars that pass by each day along I-35. The current widening of I-35 from the Sam Rayburn Tollway/SH 121 and extending north will continue to bring in additional traffic to the intersection and the shopping centers once the expansion is completed. Both centers are situated next to Vista Ridge Mall which is Lewisville’s dominant shopping destination featuring more than 1,000,000 square feet of retail space and 160 tenants along with four major department store anchors and a 15-screen Cinemark theater.

High-Traffic Anchors with Solid Rent Growth.

Bed, Bath & Beyond, Pier 1 Imports, DSW and Burke’s Outlet serve as primary anchor draws for the centers with a significant amount of highly visible shallow bay depth retail space providing the ability to drive rents higher over the hold period. The combined compound annual growth rate over a 10 year hold period is 5.58% based on conservative leasing assumptions. These anchor tenants along with numerous popular restaurants are the driving force behind repeat customer trips to the centers.

Compelling Demographic Profile.

Income levels and population growth within the 1-3-5 mile radii are very strong. Population growth within a 1-mile and 3-mile radius exceeded 14% from 2010-2015 while 2017 average household incomes within a 3-mile and 5-mile radius exceed $94,000 and $101,000, respectively. Total population within a 3-mile and 5-mile radius includes more than 96,000 and 225,000 people, respectively. Projected population growth is estimated to increase more than 2.9% annually for each of the above population radii.

Unencumbered Assets.

Both assets are being delivered to the marketplace free and clear of any existing debt thus allowing an investor to take advantage of today’s aggressive lending environment.