601 E 42nd Street - 601 E 42nd Street, Odessa, TX 79762

Advantageous Cost Basis: The ability to acquire the Property well below replacement costs provides investors with a valuable entry point for an established multi-tenant retail opportunity, minimizing overall economic risk.. Extensive Renovation Limiting Future Capital Expenditures: The Property boasts a high-quality curb appeal and provides a substantial leasing advantage compared to other centers in the trade area based on the redevelopment in 2020. The extensive overhaul of the center included roof overlay, new plumbing, pylons signs and lighting, electrical improvements, major parking lot repairs, and an additional inline space. . Secure Income Stream: The Property provides an investor with significant stability based on contractual rent paid by an evenly distributed composition, preventing concentration on one tenant or use. In addition, with nearly six years of weighted average term remaining, it creates a staggered future rollover with only 10.34% of the Property’s GLA expiring within three years. . Strong Development Fundamentals with Prime Retail Location: The Property’s well-designed layout and lack of outparcels increase visibility and accessibility in the heart of Odessa’s main retail corridor. . Broad E-Commerce Resistant Tenant Mix: Sherwood Village’s prime location has made it the top destination for retailers within the trade area, resulting in a diverse collection of national, regional, and local tenants that are e-commerce-resistant and synergistic, creating a dynamic mix.. Thriving Retail Market: As part of the redevelopment, an additional 17,000 square feet of retail was built in 2020 and quickly absorbed, articulating the depth of the Odessa retail market. Odessa enjoys a very low vacancy of 2.10%, resulting in a cumulative rental increase of 12.20% over the past three years that will continue to trend based on minimal new developments, ensuring existing tenant retention and future tenant appeal if space becomes available.. Signalized Intersection with Robust Traffic: Sherwood Village is located on a heavily trafficked signalized intersection of Dixie Boulevard and East 42nd Street, which serves as a primary neighborhood thoroughfare for residents of the mature trade area. The Property’s tenants benefit from a combined 40,000 cars daily at the intersection.