University Retail Shopping Center
College Station, Texas 1911 Texas Avenue
The Opportunity
NOT OPEN TO GENERAL SOLICITATION
Sage is pleased to present an opportunity to invest in a university retail shopping center, a 170,225 sf center within College Station’s highest density trade areas and includes national retailers such as Hobby Lobby, Ross Dress for Less, Big Lots, Shoe Carnival, Petco, and Twin Liquors.
Key Highlights
Great Location: Strategically located in an established retail corridor with quick highway access to US Highway 6 and other major thoroughfares connecting all of College Station.
Newer Asset: Built in 2002 and requires no major renovation, which means excess cash will flow to limited partners, rather than improvements.
High Quality Tenants: 100% occupied with strong tenancy and stable cash flow. The primary tenants are Hobby Lobby, Ross Dress for Less, Petco, Shoe Carnival, and Twin Liquors.
Sticky Tenant Base: The property boasts a weighted-average tenure of over 14 years, further proving the asset’s ability to attract and retain high-quality retail tenants.
Project Summary
Year Built: 2002
Land Area: 15.04 Acres
Net Rentable Area: 170,225 sf
Occupancy: 100%
Year 1 NOI: $1,820,615
Acquisition Price: $24,750,000
Business Plan
SageStreet anticipates maintaining his asset for a traditional hold period of 7 years. There are multiple avenues of increasing the NOI at University Shopping Center and achieving maximum proceeds upon sale.
With extremely limited capital expenditure exposure, Edifis is able to focus on operations and increasing rents.
The property also presents a compelling mark to market opportunity. In-place rents are, on average, 21% below market. With 80.6% of the NRA expiring in the first 5 years of the hold period, Edifis has the opportunity to push rents in the coming years.
Edifis will be assuming a loan upon closing and will plan to refinance in the first 3-5 years of the hold period to maximize cash flow and proceeds upon sale.
The Asset
Market Demographics
Tenant & Lease Overview
$7,900,000
Offering size
Timing
Timing of Funds:
February 1st, 2022
Timing of Close:
April 15th, 2022
Management Team
EDIFIS is a private, fully integrated Texas real estate investment firm specializing in quality income-producing assets and development opportunities. Their focus is on existing and undeveloped assets in the retail, industrial, office and multi-family sectors. We target institutional-grade properties with favorable supply/demand fundamentals. EDIFIS relationships, diligence, and execution provide investors access to exceptional real estate investment opportunities. They acquire and manage existing cash-generating properties for their partners and clients. EDIFIS also identifies tenants, from major chains to individual businesses, seeking to enter new markets or expand operations in the nation's number-one growth area -Texas- then acquire, develop, manage, lease, or sell prime tracts that match their specific criteria.
