Heritage Plaza is a 36,570 square foot retail center, built in 2001, and situated on the signalized hard corner of Matlock Road and Country Club Road in Mansfield, TX. Heritage Plaza is well-positioned in a fast growing community in North Texas with a complementary mix of retail, office, and medical tenants. The property is currently 92% leased with stable cash flow. Many of the Tenants are on modified gross leases, although all of the gross leases currently allow for expense increases over a base year. The landlord is not currently collecting any of these. As a result, there is a tremendous upside potential that may be achieved by collecting the expense reimbursements, or converting the existing gross leases to triple-net. Additional upside can be achieved by bringing the rates up to a current retail market rate, currently estimated to be between $18.00-$20.00 per square foot. Overall, Heritage Plaza provides immediate cash flow, as well as the opportunity to acquire an attractive property with attainable upside potential in a high-growth area of Dallas/Fort Worth Location Description: Heritage Plaza is a 36,570-square foot retail center situated on the corner of Matlock Road and Country Club Road in Mansfield, Texas. Heritage Plaza is well-positioned in a growing community and has a complementary mix of retail, office, and medical office tenants. Highlights: ■ Great Upside Potential ■ Highly Desirable D/FW Suburb - Mansfiled, Texas ■ Currently 92 Percent Occupied * This property also has spaces available for lease. « show less
Heritage Plaza is a 36,570 square foot retail center, built in 2001, and situated on the signalized hard corner of Matlock Road and Country Club... show more »
Please describe your commercial real estate requirements.
We’ll introduce you to local properties that match your criteria.
Rofo has the most comprehensive commercial real estate listings in your area. Search for office spaces, retail spaces, and industrial spaces. We compile all the information you need to find the office spaces that match your business needs and provide quick access to the office brokers. Use our friendly user-interface and detailed listings to search your area for small business office spaces for rent and for lease.