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3401 Gulf Freeway, Dickinso...

Updated Oct 28, 2024

The Mishra Group Acquires Dickinson Plaza Shopping Center In Dickinson, Texas
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The Mishra Group Acquires Dickinson Plaza Shopping Center In Dickinson, Texas

3401 Gulf Freeway, Dickinson, Texas 77539, United States

Building Size

100,000 SF

Asset Type

Retail

Closing

Dec 30, 2022

About this deal

AI

Dickinson Plaza Shopping Center, located in the Dickinson, Texas trade area, has been acquired by The Mishra Group. The retail shopping center spans approximately 100,000 square feet and was purchased on December 30, 2021. The center is anchored by Boot Barn, one of the nation's largest western wear apparel and accessory outlets, and Star Fine Furniture, a regional upscale furniture and home furnishing sales store. It also houses Family Dollar, one of the largest dollar-store chains, and Monterey's Little Mexico, a well-established Mexican restaurant chain with nine locations across multiple states. With ample parking and the ongoing Gulf Freeway construction and expansions, the center is set to become a prime destination for in-person shopping and convenient delivery/hub placements.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 3401, 3429, 3535 Gulf Freeway, Dickinson, Texas
  • Market: Dickinson
  • Square Footage: 100,000

The Mishra Group, represented by Vijay Mishra and Shiv Mishra, successfully completed the acquisition of Dickinson Plaza Shopping Center. The seller in this transaction was Dixie Partners. The addition of this well-positioned retail center to The Mishra Group's portfolio further solidifies their presence in the Texas market.

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Dixie PartnersSeller
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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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