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
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