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JLL Retail Capital Markets (“JLL”) is pleased to present the opportunity to acquire Heath Town Center (the “Property”), a 77,669 square foot grocery-anchored retail center located in Heath (DFW), TX. The Property is anchored by a top-performing Tom Thumb on a new 20-year NNN lease with 5% increases every five years that comprises 71% of the total rentable area. The Property caters to the surrounding affluent consumer base in Heath that boasts an average household income of $189,722 (79% above the DFW average). Heath Town Center presents the opportunity to acquire a newly constructed grocery-anchored retail asset within the thriving DFW metroplex.
TOM THUMB ANCHORED
The Property features a brand-new 20-year lease to Tom Thumb whose parent company, Albertsons, is the second-largest supermarket chain in North America, with over 2,300 stores. The necessity anchored retail provides consistent traffic and serves as an excellent anchor.
STRONG PROPERTY FUNDAMENTALS
Recently constructed in 2019, providing enhanced curb appeal and significantly reducing capital requirements over the hold period. The Property offers excellent access with increased visibility due to proximity to Rockwall Heath High School.
AFFLUENT AND GROWING TRADE AREA
Heath Town Center is uniquely positioned for future growth and increased consumer demand. The Property is located immediately adjacent to two heavy daytime traffic generators, Rockwall-Heath High School to the north and Amy Park Elementary School to the south.
SIGNIFICANT BARRIERS TO ENTRY
The Property benefits from the zoning requirements that limit further commercial development within the Heath city limits. Any additional commercial development is capped at 20,000 SF without a city-issued Special Use Permit. Property also maintains a large trade area as the Tom Thumb benefits from a lack of immediate competition. The nearest grocery competition is a Kroger located 3.8 miles to the north in Rockwall or 8.1 miles to the South in Forney.