690 American Way Terrell, TX 75160

Property Details for 690 American Way

Year built

2019

Lot size

29.33 lot acres

Property size

260,877 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional 260,877-square-foot power center in Terrell, Texas, presents a compelling investment opportunity. Boasting 100% occupancy and anchored by Academy Sports + Outdoors and Hobby Lobby, this multi-tenant property features 34 units across nine buildings situated on 29.33 acres. The strong tenant mix includes 93% national or regional retailers with staggered lease expirations and built-in rent increases, ensuring consistent income growth. All leases are triple-net (NNN), with most tenants having five to ten years remaining on their primary terms. The property's prime location at the intersection of FM 148 and Crossroads Parkway provides excellent visibility and accessibility, with close proximity to Interstate 20. The surrounding area is experiencing significant growth, with numerous national retailers nearby and substantial residential development underway, including the recently completed 270-unit Magnolia Grove Apartments and the soon-to-be-completed 300-unit Southerly Apartments. The property benefits from its proximity to The Shops at Terrell outlet mall and the high-traffic Canton First Monday Trade Days. This power center offers a compelling combination of strong occupancy, stable income, and significant growth potential in a rapidly expanding market. The property's attractive architecture and ample parking further enhance its appeal. The potential for future upside exists through the development of pad sites. This is a rare opportunity to acquire a high-performing asset in one of the fastest-growing counties in the nation.

Location Insight

City

Terrell

County

Kaufman

State

Texas

Longitude

-96.325

Latitude

32.719