Receiver Sale: Longview Shopping Center | Dollar Tree, Cato

Starting Bid: $750,000 

Auctioneer: Lamar P. Fisher

Auctioneer Company: Fisher Auction Company Inc.

Auctioneer License: 10344

 Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 711 Estes Drive is a 25,850 SF multi-tenant retail strip center on 6.85 acres in Longview, Texas. Built in 2006 and 81% occupied, the center is leased on a NNN basis to a mix of national and local tenants, including Dollar Tree, Domino's, Cato, It's Fashion, Vapor Maven and Nails by Cindy. Dollar Tree occupies 9,550 SF, or 37% of GLA, with two 5-year renewal options at $10.00 and $10.50/SF, while Domino's is leased through 2034 with 2% annual increases and Nails by Cindy, in place since 2006, through 2032. The primary value-add path is the lease-up of three vacant 1,600 SF suites totaling 4,800 SF; leasing them at $12/SF NNN adds $57,600 in base rent toward a projected Year 2 NOI of $295,269. Cato and It's Fashion also pay percentage rent of 3% of gross sales above set breakpoints. At closing, the seller will credit the buyer the rent differential to the 1/01/2027 base rent of $240,296. The center is surrounded by Walmart, AutoZone, Starbucks and Anytime Fitness, sits next to Eastman Chemical's manufacturing complex of more than 1,500 employees, and is down the street from a 360,000 SF Sysco distribution center, with access to Interstate 20 between Dallas and Shreveport.

Three Vacant 1,600 SF Suites Offer Lease-Up: Leasing all three at $12/SF NNN adds $57,600 in base rent toward a projected $295,269 Year 2 NOI.

Dollar Tree Leases 37% of GLA With Options: The 9,550 SF lease carries two 5-year options at $10.00 and $10.50/SF, with HVAC on the tenant.

Domino's Leased Through 2034 With 2% Bumps: Domino's and Nails by Cindy, in place since 2006 and leased to 2032, extend income past 2027.

Next to Eastman Chemical's 1,500-Job Plant: The plant has operated since 1952, and a 360,000 SF Sysco distribution center sits down the street.

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