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Winwood Town Center 3801-3909 E 42nd St 323,318 SF 100% Leased Retail Building Odessa, TX 79762 For Sale
INVESTMENT HIGHLIGHTS
- Top performing retail center with super regional draw
- 4 nationally recognized pads (Avg. $88k annual rent)
- #1 most visited shopping center in Midland/Odessa
- Target and H-E-B on leases (Avg. $5 PSF annual rent)
- Top tier credit tenancy (78% of GLA)
- Value-add opportunity 59% of tenants expiring without options
EXECUTIVE SUMMARY
Jones Lang LaSalle Americas, Inc. (“JLL”) proudly presents Winwood Town Center (the “Property”), an exceptional investment opportunity as a 100% leased, 372,534 SF shopping center with outstanding stability through 93% national tenancy and 78% investment-grade occupancy. As the #1 shopping destination in Midland/Odessa with 6.2M+ annual visitors, the property features a rare dual-anchor arrangement with both Target and HEB on lease. One of only two such centers in Texas, the Property provides exceptional stability while both pay significantly below-market rents (Target 78.75% below, HEB 20.28% below) that mitigates against vacancy risk. The 13/22 tenants expiring without options is supported by a substantial 31.93% mark-to-market opportunity.
Strategically positioned with visibility to 84,780 daily vehicles in the Permian Basin, which generates 48% of U.S. oil production, the center demonstrates remarkable tenant loyalty with 22.5-year average tenure while offering multiple value-add opportunities including potential pad site sales and a side strip projected to increase in revenue 84% over the 10-year hold period.
Strategically positioned with visibility to 84,780 daily vehicles in the Permian Basin, which generates 48% of U.S. oil production, the center demonstrates remarkable tenant loyalty with 22.5-year average tenure while offering multiple value-add opportunities including potential pad site sales and a side strip projected to increase in revenue 84% over the 10-year hold period.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
323,318 SF
Building Class
B
Year Built/Renovated
1987/1992
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
6 Exterior
Building FAR
0.18
Lot Size
40.44 AC
Zoning
R - Retail
Parking
1,764 Spaces (5.46 Spaces per 1,000 SF Leased)
Frontage
2,117’ on 42nd St
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $27,529,699 CAD | |
| Land Assessment | $6,841,804 CAD | Total Assessment | $34,371,503 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$6,841,804 CAD
Improvements Assessment
$27,529,699 CAD
Total Assessment
$34,371,503 CAD
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Winwood Town Center | 3801-3909 E 42nd St
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