Investment Highlights
Exceptional Specialty Grocery-anchored Center in West Dallas.
Sylvan Thirty is an exciting urban, infill mixed-used development located on the periphery of the thriving Dallas Urban Core. Developed in 2014, Sylvan Thirty’s retail component totals 47,038 square feet and is anchored by Cox Farms Market-All Natural Grocery Store (generated sales of $680/SF in 2020). There are numerous restaurants and essential service-oriented retailers at Sylvan Thirty including Juiceland, Tacodeli, Houndstooth Coffee, AT&T, Origin Bank, Cooper’s Meat Market, CiboDivino Italian Marketplace and many others.
Irreplaceable Location with Attractive Value-add Opportunity.
At 89% leased, Sylvan Thirty is located at the signalized northeast corner of Interstate 30 and Sylvan Avenue on the site that was once home to the landmark Alamo Plaza Hotel Courts. Sylvan Thirty is surrounded by more than 2,500 high-end multi-family units (with substantially more apartment units planned/under development) and benefits from numerous new, sustainable housing developments in nearby neighborhoods. Sylvan Thirty’s existing shop vacancy is comprised of four (4) individual spaces averaging 1,332 square feet per space with shallow bay depths and great visibility.
Cash Flow Stability with Supercharged Rent Growth.
Over a 10-year hold period, the compound annual growth rate (CAGR) exceeds 4.4% based on organic rent growth and conservative market lease rate assumptions including the vacant spaces. Annual base rents average $30.68 per square foot at Sylvan Thirty and are considered below-market for retail and restaurant space located within the West Dallas submarket.
Very Dense & Affluent Market Demographics with Dynamic Growth.
Sylvan Thirty’s average household incomes exceed $123,420 within a 1-mile radius with projected HH incomes exceeding $135,991 by 2025. Within a 3-mile radius of the center, there are more than 150,179 residents with average household incomes exceeding $109,387. More than 402,224 residents surround Sylvan Thirty within a 5-miile radius with incomes exceeding $97,193 and average household net worth of $625,984. These strong incomes provide ample discretionary buying power which will ensure the success of Sylvan Thirty’s existing and future tenants.
Excellent Visibility and Access.
Sylvan Thirty is very well located with prominent interstate frontage and direct access from I-30 and Sylvan Avenue with more than 150,000 vehicles passing by the center each day. There are four (4) key access points allowing convenient ingress and egress at Sylvan Thirty, and tenant pylon directory signs are strategically located throughout the shopping center for customers and visitors.
Unencumbered Asset.
Sylvan Thirty is being offered free and clear of any existing debt.
Site Plan
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Demographics
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