Off Market
El Paso, TX - Loomis
5857 Waycross Ave | El Paso, TX 79924
Description
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, Loomis investment property located in El Paso, Texas. The tenant, Loomis, has 6 years of initial term remaining with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and fair market value increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low management investment opportunity for a passive investor.
Location
- The subject property is located less than 1.5 miles from El Paso Shopping Center, which features national/credit tenants such as Burlington, Ross, Five Below, Daiso, dd’s Discounts, and Popeyes
- The asset is located near Fort Bliss, the second largest military installation (1.12 million acres), which houses over 90,000 members of the military and their families, while contributing over $22.9 billion to the area
- The property is situated in a dense retail corridor with other national/credit tenants including Sam’s Club, Walmart, Crunch Fitness, McDonald’s, Dunkin’, Panda Express, and more
- Strong tenant synergy promotes crossover shopping to the subject property
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