Property Description
HMX Realty Advisors exclusively presents for sale a newly constructed HomeGoods in the 335,100 sf Market at Czech Hall. The center attracted 2 million visits in the last 12 months and over 1.5 million are loyal customers who visited the center 4+ times. The HomeGoods is located between Burlington Coat Factory and a 93,000 sf Crest Foods, which is the dominant grocer in the area and a large driver of traffic. Ross, Marshall’s, Petco, Academy Sports + Outdoors, 5 Below, ULTA, and Rack Room Shoes are also located in the center. Pad sites include Cheddar’s, Hooter’s, LongHorn Steakhouse, Whataburger, Taco Casa, Jam, Winston, and Mo’Bettahs and Swig, which are also for sale. The parcel size is 3.64 acres and there are no co=tenancy provisions in any of the leases.
HomeGoods, an investment grade tenant, has signed a new 10-year lease as have MOD Pizza and European Wax which are attached and on the same lot. Tenants reimburse all operating expenses and pay management fees. HomeGoods is 23,100 sf and represents 67% of the property’s income. MOD Pizza is a corporate store and part of a 500-unit fast casual pizza chain. MOD stands for “Made on Demand” and was characterized by QSR News as “the Chipotle of the pizza industry”. It is a family friendly concept where customers watch the preparation process, and the pizza is cooked in three minutes in a stone oven at 800 degrees. The restaurant is 2,600 sf and represents 23% of the property’s income. All MOD Pizza locations are corporate. Lastly, European Wax, which has a personal guarantee from the high-net-worth franchisee, is part of an 878-unit chain focused on hair removal and skin care products. It is 1,400 sf and represents 11% of the property’s income.
Located on the border between Yukon and Oklahoma City, the center services both Oklahoma City residents and the bustling City of Yukon, which is experiencing robust demographic growth. The area has a higher disposable income that other parts of the market. Population growth is significant with a 19% growth rate in 5-miles.
