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Scott Walker Of MIMCO Lease...

Scott Walker Of MIMCO Leases 31,000 Square Feet Retail Space To Gemma Lionello Of Nordstrom Rack In McAllen
LEASEDRetail

Scott Walker Of MIMCO Leases 31,000 Square Feet Retail Space To Gemma Lionello Of Nordstrom Rack In McAllen

Building Size

31,000 SF

Asset Type

Retail

Closing

Apr 9, 2026

AI

The retail asset located at Interstate 2 & South McColl Road in McAllen spans 31,000 square feet. It is situated within a larger retail center that encompasses a total of 288,000 square feet, enhancing its appeal within the McAllen market.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: Interstate 2 & South McColl Road
  • Market: McAllen
  • Landlord: Scott Walker - MIMCO
  • Tenant: Gemma Lionello - Nordstrom Rack

Scott Walker represents MIMCO in the leasing transaction, while Gemma Lionello represents Nordstrom Rack as the tenant. The new Nordstrom Rack store will be part of the Las Tiendas Shopping Center, contributing to Nordstrom's expansion within Texas. This opening is expected to enhance the shopping center's position as a regional destination.

Players

Scott Walker

MIMCO Propeties

Landlord

2 deals

Landlord

Gemma Lionello

Nordstrom Rack

Tenant

2 deals

Tenant

Market 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