Investment Highlights
Dominant Grocery Anchor Location - NEW 10 Year Kroger Extension.
Towne Crossing is a well-established, Hispanic-oriented shopping center with 167,957 square feet of space and thirty-one (31) existing tenants with three (3) vacant spaces. A strong performing 45,528 square foot Kroger store has anchored the center since opening in 1985. Reported sales were $28.48 million ($626 psf) for the lease year ending in August 2025. Towne Crossing has seen a significant increase in customer traffic and sales since Kroger closed a sister store 2.5-miles to the northeast (Garland) in July 2025. As a result, sales have increased $65,000 per week and the trailing 12-month sales are trending toward $32 million ($700+ psf) at Towne Crossing. Kroger also operates a fuel center which provides additional traffic to the center. Kroger recently completed an early ten (10) year lease extension with its new lease term expiring February 28, 2036. Kroger occupies 26.9% of the center based on GLA and generates approximately 17.5% of the total base rent for Towne Crossing.
Below-Market Rents & Significant NOI Growth with Huge Mark-to Market.
Towne Crossing is currently 92% leased with average rents of $13.77 per square foot which is considered substantially below market within the surrounding retail submarket. Approximately 70% of existing tenants have rent escalations during their current lease terms, and more than 85% of tenants have no renewal options or have FMV renewal options. Over a 5 year hold period, the compound annual growth rate (CAGR) exceeds 4.53% based on organic rent growth and using conservative market lease rate assumptions.
Important Capital Improvements: Parking Lot Replaced and Interstate 30/Gus Thomasson Interchange Completed.
In late 2024, current ownership spent more than $1 million to install a new asphalt parking lot including new striping throughout the entire shopping center. In addition, TXDOT completed a total reconstruction of the I-30/Gus Thomasson Rd. interchange including a new bridge and new intersection. This work was completed in early 2025 and has further increased customer traffic to Towne Crossing.
Extremely Dense Population with Attractive Household Incomes.
Towne Crossing benefits from a greater than 50% Hispanic population base surrounding the shopping center. Population exceeds 13,823 residents within a 1-mile radius and 129,615 residents within a 3-mile radius. Average household incomes surrounding Towne Crossing exceed $81,267 and $83,116 within a 1-mile and 3-mile radius, respectively. Within a 5-mile radius, Population exceeds 337,716 people with incomes exceeding $93,593.
Exceptional Visibility and Excellent Access.
Towne Crossing is bound by 3 thoroughfares and two (2) signalized corners creating convenient access throughout the property with eight (8) points of ingress and egress throughout the shopping center. More than 53,121 cars pass by the center each day. There is a large multitenant pylon sign at the entrance of the shopping center that provides maximum tenant exposure and tenant identification for shoppers. Towne Crossing is located less than one mile from Town East Mall, a popular and frequently visited enclosed mall with more than 1.2 million square feet and is anchored by Dillard’s, JC Penney, Macy’s and Dicks Sporting Goods. A new 58,000 square foot Main Event is currently under construction and will occupy the former Sears building in front of the mall.
Unencumbered Asset.
Towne Crossing is being offered free and clear of any existing debt.
Site Plan
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Demographics
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Location
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