Asking Price
Area Size
NOI Net Operating Income
NIY

Documents

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Attributes

Year Built 2008
Building Area Net
Occupancy 100.0 %

Asset Description

THE OFFERING

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the 129,155 SF retail asset located at 1551 E Debbie Lane Mansfield, TX (the “Property” or “Asset”). The Property is fully leased by Life Time Fitness (“Life Time” or “Tenant”). Life Time recently executed a brand new 20-year absolute NNN lease, subject to 10% bumps every 5-years. Per placer.ai’s annual visitor data, this location is within the top 30% of all Life Time Fitness locations nationally.


Life Time Group Holdings, Inc. (NYSE: LTH) is a publicly traded company and was originally founded in 1992. Headquartered in Chanhassen, MN, Lifetime provides health, fitness, and wellness experiences to a community of individual members across the United States and Canada. It primarily engages in designing, building, and operating sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas. Life Time has 150+ locations across 39 states. The company currently has 15 new locations scheduled to be delivered within the next 2 years.


The Property is ideally situated just off Highway 287 along E Debbie Lane, a highly trafficked retail corridor in the heart of Mansfield, TX. Mansfield is an affluent suburb that is part of the Dallas-Fort Worth Metroplex. Within a 5-mile radius of the Asset, there are more than 230K residents with an average household income of over $125K. The Property is surrounded by numerous adjacent residential and retail development, including a Kroger, Walmart, and Aldi as well as the Villaggio Apartment complex, consisting of 272 multifamily units. 

Investment Highlights

INVESTMENT HIGHLIGHTS

  • Brand new 20-year Absolute NNN lease offering
  • Top 30% of all Life Time Fitness locations nationally
  • +230K residents with an average household income $125K within a 5-mile radius
  • Attractive 10% rent bumps every 5-years
  • Dynamic Dallas- Fort Worth MSA location within close proximity to highway 287
  • Strong national retailers directly adjacent to the site including Kroger, Walmart, and Aldi.
  • 272-unit multifamily complex directly north of the Asset
  • ~30,000 vehicles per day along E Debbie Lane


Last Updated Date: 17 Oct 2022

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Last Updated Date: 17 Oct 2022

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