•	The Property is long-term leased to Hobby Lobby Stores, Inc. for use as a Hobby Lobby and Mardel
•	Hobby Lobby Stores, Inc. is the corporate operating entity for Hobby Lobby, the largest privately owned arts and crafts retailer in the world, operating over 1,000 locations nationwide
•	The tenant recently executed a new 5-year lease extension and holds two
(2)	additional 5-year renewal options, reinforcing long-term income security and commitment to the site
•	The lease features rental increases of $0.25 per square foot at the beginning of each option period, supporting NOI growth and providing a built-in hedge against inflation
•	The roof was replaced in 2018 with warranty coverage through 2038

Mesquite TX - Hobby Lobby & Mardel Flyer.pdf

•	The property is prominently positioned at the signalized hard corner of Tripp Road (6,000 VPD) and N. Galloway Avenue (27,100 VPD), offering excellent visibility and accessibility from both thoroughfare
•	Just minutes from the intersection of I-635 (170,400 VPD), a major north–south arterial, and US-80 (84,800 VPD), a key east–west arterial, the site benefits from seamless connectivity throughout the greater Dallas metro area
•	The property serves as a shadow anchor to Vista Crossing, a 230,000 SF regional retail center anchored by El Rio Grande and dd’s Discount, and home to national brands like Dollar General, Jack in the Box, and DaVita
•	Vista Crossing is a top performing center, drawing over 1.6 million visits annually and ranking in the top 94th percentile nationally / 95th in Texas among comparable centers (Placer.ai)
•	Located in a prime retail corridor, in close proximity to numerous national brands and major centers such as The Marketplace at Town Center (Home Depot-anchored, 4.8M+ visits) and Town East Mall (2.6M+ visits, anchored by Dillard’s, Macy’s, Dick’s)

Mesquite, TX - Hobby Lobby & Mardel

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<p>Ivy Kwon joined SRS Real Estate Partners in 2017 and is a Senior Marketing Associate in the Newport Beach office. Ivy is responsible for online marketing including social media and email marketing for SRS’ Capital Markets team. She also oversees pipeline management and coordinates events. Before joining SRS, Ivy worked in the entertainment industry doing marketing and merchandising. </p><p>Ivy has a BA degree from Chapman University. </p>

Off Market

Mesquite, TX - Hobby Lobby & Mardel

Description

Location

Contact

Matthew Mousavi

Patrick Luther, CCIM

Ryan Byrne