3322 Buckner

Property Details

Asking Price:
$4,288,306
Tenancy:
Multi-Tenant
Occupancy:
96%
Property Type:
Shopping Center
Square Footage:
52,688 sqft
Year Built:
1985
Lot Size:
4.9 acres
NOI:
$321,623
Price/Sq Foot:
$81

3322 Buckner

War Room

Confidentiality Agreement

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Property Overview

  • Two of the Three Tenants Are Publicly Traded Companies with a Combined Market Capitalization in Excess of $42.5 Billion
  • Over 62,000 Vehicles Per Day at the Intersection
  • Priced at Under $82 PSF – Well Below Replacement Cost
  • Dominant Intersection in the Thriving East Dallas Trade Area
  • Dense Residential Trade Area with Over 19,000 People in a One-Mile Radius and Over 136,000 People in a Three-Mile Radius
  • Property Serves as the Anchor to the 92% Leased Towne Market Center
3322 Buckner is a three-tenant, 52,688 square foot retail box situated on ± 4.9 acres of land. The subject property is 96.2% leased and serves as the anchor to the adjacent 81,815 square foot Towne Market Center which is 92% leased. Two of the tenants in the subject property, dd’s Discounts (ROST) and Citi Trends (CTRN) are publicly traded companies with a combined market capitalization in excess of $42.5 Billion. The property is located on the SEC of Buckner Boulevard (Loop 12) and John West Road in Dallas, Texas. Strategically situated along the dominant north/south thoroughfare of Buckner Blvd., this center serves as a gateway into the dense residential neighborhoods of Forest Hills, Little Forest Hills, Lake Highlands and Casa Linda that surround White Rock Lake. Within one mile of this property, national retailers include Walmart, Sam’s Club, Ross, Planet Fitness, 7-Eleven, Bank of America, Chase Bank, Auto Zone, Foot Locker, CVS Pharmacy, Walgreens, Dollar General, and Family Dollar. The Dallas-Fort Worth metroplex is the largest metropolitan area in Texas, the largest in the South, and fourth largest in the U.S. with a population of 7,539,711, according to the new 2019 U.S. Census population estimates. Overall, DFW is the 11th largest metro economy in the world and has a gross metro product exceeding $535 billion according to the Bureau of Economic Analysis. As a result, the metroplex benefits from the 24 Fortune 500 company headquarters and the 43 Fortune 1000 headquarters located throughout DFW. The housing market in the dense residential east Dallas area bound by Highway 78 (Garland Road), R.L. Thornton Freeway (I-30) and I-635 has seen some of the Metroplex’s largest appreciation over the last decade with average home prices escalating over 75% during that period to ± $275,000. Due to the property’s strategic location along Buckner Blvd. (Loop 12), it benefits from a dense population of over 136,353 within a three-mile radius, a combined traffic count of over 62,000 vehicles per day at the intersection of Buckner Blvd. and John West Rd., as well as close proximity to Bishop Lynch High School (1,019 Students) and Eastfield College (16,663 Students). This strong discount lineup anchors the successful Town Market Center which is situated at one of the most heavily trafficked community intersections in thriving east Dallas and is sure to be a stable investment play for years to come.