Four Corners at Cimarron
El Paso, TX
Executive Summary
Investment Highlights
- Corporate Leases Featuring Drive Thrus & Outdoor Seating
- El Paso & Cimarron - Poised For Major Growth
- Mega Global Credit Tenants
- Ideally Positioned in Dense Retail Node Near #4 Walmart in Texas
DuWest Realty Investment Services is pleased to present the opportunity to acquire Four Corners at Cimarron Retail ("the Property"). Located in El Paso, Texas, the 5,850 square foot property is the newest addition to the ongoing expansion of retail development along Paseo del Norte Blvd. This best-in-class Property features two superior credit stand-alone drive-thrus leased to Starbucks and Dunkin', as well as another strong credit two-tenant retail building, featuring another drive-thru space. The demand for this retail serves the dense (24,722 households) and affluent (Avg HHI $113,480) within 3 miles.
The Property features the two largest global coffee chains (a combined market cap of a staggering 112 billion!) featuring a 10% contractual rent growth by year 6. This Dunkin' location is brought to you by Sizzling Donuts LLC (~400 locations). While the Landlord is responsible for roof and structure, both buildings are newly constructed and come with transferrable roof warranties upon purchase. The back building features TeaN'ergy, a fast growing healthy, high-quality teas and energy drinks concept as well as Supercuts, a well-known salon concept offering a wide array of hair services and styling for both men and women. The newly constructed buildings are located in an incredibly dense retail node in El Paso, Texas. The Property is ideally located amongst behemoth retailers (Walmart Supercenter #4 in Texas) , Chick-fil-A, Cabela's, TJ Maxx/ Homegoods) as well as major employers such as Becton Dickinson, Schneider Electric, and near the Canutillo High School (1,549 students).
The Property benefits from the residential density to the east of the site capturing the traffic as residents take Paseo del Norte to Highway-10 (combined VPD of over 107,000 VPD). El Paso is the most populous city in West Texas and the sixth most populous city in Texas. The El Paso-Las Cruces combined region of 2.7 million people constitutes the largest bilingual and binational workforce in the Western Hemisphere. Apart from being a major transportation hub, El Paso is known for its vibrant culture, quality of life, and favorable cost of living.
The acquisition of Four Corners at Cimarron Retail provides the investor contractual rent growth allowing your income stream to increase throughout your hold. The Property offers a steady cash flow featuring NNN Leases and new high-end construction. This fully stabilized asset with strong national credit tenant concepts answers the demand for El Paso's current density and growth projections in an affluent trade area.