|Last Updated Date||08 Jun 2020|
CREDIT GROCERY ANCHOR • Top Performing Grocer: Ranked #53 on the Fortune 500 list. • High Productivity Store: Albertsons strong performance is demonstrated by its strong health ratio of less than 3%. SECURE CASH FLOW • 87% Credit Tenancy: Kenworthy Crossing is strategically leased to a strong mix of high-performing national credit tenants • 11.8 Years WALT: If an investor elects to extend Albertsons through 2032, the Center will benefit from a weighted average lease term of nearly 12 years. • Minimal Rollover Exposure: less than 4% rollover within the first 5 years. • Strong Sales Performance: Albertsons and Pizza Hut – have excellent sales performance and health ratios. In the last 24 months, Pizza Hut’s sales are up over 16% to more than $1,200 PSF. • Ideal Shop Space Ratio: With a strong anchor to shop space ratio of approximately 75% to 25% EXCELLENT PROPERTY FUNDAMENTALS • Ideal Position Along Patriot Freeway (US 54): Strategically located along one of El Paso’s most heavily trafficked thoroughfares, with immediate exposure to more than 65,000 VPD. • Institutional Ownership: Kenworthy Crossing has been institutionally owned and maintained with a new roof installed on a majority of the Property in 2014 (under warranty through 2029). • Convenient Access: Excellent access provided by 8 points of ingress / egress along Patriot Freeway and Kenworthy Street. PROXIMITY TO STRONG ECONOMIC DRIVERS • Fort Bliss US Military Base: Home to more than 38,500 active duty, 39,000 family members, 13,000 civilians, and 1,000 reservists, Fort Bliss is one of the largest military bases in the state. • The University of Texas at El Paso: With more than 25,000 students and over 3,500 faculty and staff • Foreign Trade: El Paso’s strategic position along the U.S. / Mexico border makes it a foreign trade hub with over $75 billion in annual trade volume
Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to exclusively present the opportunity to acquire Kenworthy Crossing (the “Property” or “Center”), an institutional quality 74,393 square foot Albertsons anchored shopping center located in El Paso, Texas. With a highly accessible location along Patriot Freeway (SH-54), Kenworthy Crossing is the dominant grocery retail destination for a broad trade area with some of the highest incomes in the El Paso market. The Property’s tenancy combines a high-performing credit grocery anchor with successful necessity-based retailers, providing a reliable income stream with significant remaining lease term and a strong history of success.