713-852-3535
3801-3909 E 42nd St, Odessa, TX for Sale
Retail - FOR SALE
1/6
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3801-3909 E 42nd St
Odessa, TX 79762


HIGHLIGHTS

  • Top performing retail center with super regional draw
  • Target and H-E-B on leases (Avg. $5 PSF annual rent)
  • 4 nationally recognized pads (Avg. $88k annual rent)
  • Top tier credit tenancy (78% of GLA)
  • #1 most visited shopping center in Midland/Odessa
  • Value-add opportunity 59% of tenants expiring without options

OVERVIEW

Jones Lang LaSalle Americas, Inc. (“JLL”) proudly presents Winwood Town Center (the “Property”), an exceptional investment opportunity as a 100% leased, 372,534 SF shopping center with outstanding stability through 93% national tenancy and 78% investment-grade occupancy. As the #1 shopping destination in Midland/Odessa with 6.2M+ annual visitors, the property features a rare dual-anchor arrangement with both Target and HEB on lease. One of only two such centers in Texas, the Property provides exceptional stability while both pay significantly below-market rents (Target 78.75% below, HEB 20.28% below) that mitigates against vacancy risk. The 13/22 tenants expiring without options is supported by a substantial 31.93% mark-to-market opportunity. Strategically positioned with visibility to 84,780 daily vehicles in the Permian Basin, which generates 48% of U.S. oil production, the center demonstrates remarkable tenant loyalty with 22.5-year average tenure while offering multiple value-add opportunities including potential pad site sales and a side strip projected to increase in revenue 84% over the 10-year hold period.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Winwood Town Center

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

1764

LAND DETAILS

LAND ACRES

40.44 AC

LAND SF

1,761,566 SF

ZONING

F1

APN/PARCEL ID

36800-01549-01100,BL4007398900000

ASK ABOUT THIS PROPERTY

Ryan WestJLLMore Info
713-852-3535

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Ryan WestJLLMore Info
713-852-3535

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