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Tomball, TX - Goodman Distribution
1902 S. Cherry St | Tomball, TX 77375
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased Goodman Distribution investment property located in Tomball, Texas. The tenant, Goodman Distribution, Inc., has approximately 5 years remaining on its 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and FMR increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for an out of state investor.
Location
The property is located just east of State Highway 249, which averages over 40,300 vehicles passing by daily and is a major retail thoroughfare serving the city of Tomball. The site is located less than a mile east of Tomball’s main retail corridor, which includes Tomball Marketplace, a shopping center featuring tenants such as Academy Sports + Outdoors, Kohl’s, Marshall’s, and more. The area also features Target, Lowe’s Home Improvement, and H-E-B. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, Hobby Lobby, Tractor Supply Co, Chick-fil-A, Starbucks, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to th immediate trade area and promotes crossover store exposure to the site The subject property is adjacent to Wood Leaf Reserve, a newly-developed, 95 acre residential community. The 5-mile trade area is supported by a population of over 138,800 with an average household income of $139,774.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215