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JLL is pleased to offer for sale is the single-tenant Timewise Food Store, located in Cypress, Texas. The property is leased to Timewise Food Stores, a convenience store chain with over 240 locations throughout Texas. The tenant is currently operating on a corporate guaranty from Landmark Industries with five, 5-year renewal option periods.
Strategically located at the intersection of US-290 (120,000 VPD) and Barker Cypress Road (28,600 VPD), the property shares a retail corridor with leading brands including Target, Home Depot, Chase Bank, Star Furniture, H-E-B, LA Fitness and more. This offering presents the opportunity to acquire a long-term lease that possesses strong real estate fundamentals within the Houston MSA. Cypress has been ranked as the number one metro for economic growth potential.
• Primary lease term of 15 years on an NNN ground lease with no landlord responsibilities
• Rental increase of 10% every 5 years
• Partnerships with Shell, Exxon, Chevron, Mobil, Valero and Texaco fuel lines
• National branded in-store merchandise in one of the fastest growing U.S. cities
• Over 232,000 residents within a 5-mile radius, with an average annual household income of $123,960