Daiso Leases Retail Space In Pflugerville's Stone Hill Town Center
500 Limestone Commercial Drive
Building Size
8,500 SF
Asset Type
Retail
Closing
Apr 15, 2024
AI
The retail property at 500 Limestone Commercial Drive in Pflugerville spans 8,500 square feet and will soon be occupied by Daiso, a global retail chain. The landlord, NewQuest Properties, successfully secured this tenant to fill a vacancy at Stone Hill Town Center, formerly held by Kirkland’s Home. Daiso is anticipated to open its store in the fourth quarter of this year, contributing to the center's impressive 99% occupancy rate.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Tenants: Seiji Yano - Daiso
- Landlord's Rep: Josh Friedlander - NewQuest Properties
- Tenant's Rep: Scott Espensen - Venture Commercial Real Estate
- Address: 500 Limestone Commercial Drive
- Market: Pflugerville
Scott Espensen from Venture Commercial Real Estate represented the tenant, Seiji Yano, in this lease transaction, which will see Daiso establishing its presence in the thriving market of Pflugerville. The move by NewQuest Properties to swiftly secure Daiso's tenancy highlights their proactive approach in maintaining the high occupancy rate at Stone Hill Town Center.
Players
Pflugerville Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93