CBRE’s Net Lease Property Group is pleased to present to qualified investors a two-unit opportunity in Austin, TX. The opportunity is 85.4% occupied by AMC Theatres. There are strong, 10% rental increases every five years in the base term and in each option period. Additionally, the offering has a 7,691-square-foot unit available for lease up, potentially increasing the stabilized NOI by an +/- $390,000.
The Property is well located within the rapidly growing Northeast neighborhood of Austin, TX. 369,194 residents are earning an average household income of $106,463 within the primary trade area. The entire Austin MSA has experienced tremendous growth over the past several years. Within the Property’s primary trade area, the population has grown 42.2% since 2010 and is expected to grow an additional 10.5% over the next five years. AMC Theatres is strategically positioned within a 2.2 million square foot, 95% occupied retail corridor with an abundance of national and regional tenants, creating a significant draw to the Property. Tenants in the area include Ross Dress for Less, PetSmart, Floor & Décor, Walmart Supercenter, Lowe’s Home Improvement, The Home Depot, H-E-B, JCPenney, Chick-fil-A, Chili’s, In-N-Out Burger, McDonald’s, and Panera Bread, among others.