McCombs Shopping Center Offering
A 30,000 square-foot, Triple NNN, Retail Center Ground-Up Development
Executive Summary
Blue Phoenix Capital is pleased to present the McCombs shopping Center, a 506(c)-investment opportunity located in El Paso, TX.
Designed by Atlas Engineering, the McCombs Shopping Center is a 30,000 square foot retail center ground-up development. The retail center will be developed up to shell stage after which each tenant will complete their own tenant improvements.
The total anticipated budget for the project is $4,844,871, of which $1,720,824 is for land acquisition and planning costs, $2,749,047 for construction, and $375,000 for replacement reserves.
Blue Phoenix Capital has decided to make this an all equity raise of $4,844,871 from LP investors and place no debt on the project. This decision was made to mitigate the risks of foreclosure from a lender due to the risks that are normal to retail centers such as slower than anticipated lease times and lower than anticipated lease rates. Although the decision to not use leverage on this development may bring lower returns to the LP investors, it also comes with less risk.
The project is located in El Paso, TX at the intersection of Dyer St., McCombs St., and Woodrow Bean Dr. The intersection sees an annual average daily traffic count of 21,887 vehicles per TXDOTs traffic analysis and reporting system.
Investment Overview
Location
El Paso, TX; near the intersection of Dyer St. and McCombs St.
Planned Project
30,000 square foot retail center; Triple NNN
Target Baseline Rent
$22/square foot/ year
Proposed capital Structure
$4,844,871 Common Equity Raise, $0 debt
Limited Partner Fund
Blue Phoenix Fund D1, LLC
Size of Site
3.1 Acres
Parking Spaces
125 parking spaces
Timing
6 months for entitlement + 9 months for construction + 2 years for stabilization
General Partner
Blue Phoenix Capital, LLC
GP/LP Waterfall
No preference, No hurdle, 20/80
Location and Demographics
21,887 Annual Average Daily Traffic Count at intersection per TXDOT's traffic analysis and reporting system.
Layout and Design
Site Plan
Elevation Type I
Elevation Type II
Elevation Type III
Building Type I Floor Plan
Financial Underwriting
Scroll through or download the underwriting for McCombs Shopping Center.
Disclosure
The purpose of this page is to share conceptual and basic information on a new investment opportunity. As such, this packet is not intended to be complete, and the information contained herein should not be relied on by anyone reading it as the basis for their decision to invest in this opportunity.
After verification of accredited status, a confidential Private Placement Memorandum (“PPM”) will be provided to all interested parties, which is the only document provided which investors can review to determine whether to invest. This page is intended to be used for informational purposes only. The use of this material is authorized only to those whom it was originally provided. The funding of the investment is subject to Blue Phoenix Capital completing its due diligence and underwriting processes in order to prove up the market and examine the physical and financial information associated with the investment.
