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.
Players
League City Retail Market Snapshot
Boundary boundary · Retail · Sale 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