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500 Limestone Commercial Drive

Updated Dec 4, 2024

Daiso Leases Retail Space In Pflugerville's Stone Hill Town Center
LEASEDRetail

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

About this deal

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.

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Players

Josh Friedlander

NewQuest Properties

Broker

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Pflugerville Retail Market Snapshot

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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

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