Mall Of The Mainland – CofO

Property Title

10000 Emmett F Lowry Expressway
Texas City, TX 77591

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investment highlights

  • Class A New Conversion – 65,675 NRSF of Self Storage
  • “Amazon Resistant” Retail Location
  • Good Visibility – Traffic Counts of 97,000
  • 1 Mile from Lago Mar Master Planned Community – 4,000 New Homes and 14,000 Residents
  • Texas City – Petroleum and Petrochemical Hub. One of Top Ten Busiest Ports in the Nation

property summary

Mall Of The Mainland CofO is a 65,675 net rentable square foot self storage facility located in Texas City, Texas. The property sits on approximately three acres of land and consists of 616 units, all of which are climatized. The property also contains a postal center. The facility is one single story building that was a former JC Penney in the Mall Of The Mainland and will be sold at Certificate of Occupancy on January 25, 2019. Texas City is the second largest city that is fully contained within Galveston County.

The facility will have numerous amenities typically found in Class A self storage facilities including security pass code access, video surveillance throughout the property, and a full-service manager’s office. The postal center was mandated by the mayor of Texas City and exemplifies a barrier to entry that exists for future self storage developments. The Seller will sign a 10 year lease upon closing to operate the postal center.

The property is situated in the redeveloped Mall Of The Mainland near the intersection of I-45 and FM 1764 which sees 31,000 vehicles drive by daily, not to mention the 66,000 vehicles that can see the mall driving on I-45. The facility is in the heart of a major retail traffic hub that is in the process of being revitalized from traditional retailers to “Amazon Resistant” experience based destinations. The new self storage facility will sit adjacent to Altitude Trampoline Park, which lays claim to being the “Largest Trampoline Park in the Country”. The former Dillard’s on the east end of the mall has been converted into the
First Baptist Church of Texas City, which is a mega church that averages around 400 attendees on any given Sunday. Elsewhere in and around the mall, there is a state-of-the-art World Gym that replaced a sagging Macy’s, a Cinemark 12 cinema which is the only movie theater within 13 miles and has been a tenant for 28 years. Several restaurants including Olive Garden, and four hotels are on adjacent pad sites or across the street. Numerous non-anchor tenants are now leasing space in the mall including WWE superstar Booker T who operates a wrestling school. There are health and wellness tenants such as a chiropractor, a juice/fruit smoothie bar, and Tuscany which is a 54 unit hair salon studio. Further diversifying the tenant mix is Plaza Royal Executive Office Suites which has 28 spaces. Scheduled to join the mall’s rent roll in late 2018 is a 12,000 square foot indoor electric race track and four more restaurants.

In addition to being in a re-emerging core retail area of Galveston County, the property sits one mile from Lago Mar, a new 4,000 home master planned community that will be home to approximately 14,000 people. There are also other housing developments within three miles including Delaney Cove which is in the midst of a new phase that will see hundreds of homes over the next four years.

Fueling the residential growth is the immense amount of industrial activity taking place in the southeast part of Greater Houston. The Port of Texas City is one of the top ten busiest ports in the nation. There are numerous petroleum and petrochemical refineries such as Dow Chemical, Marathon Oil, and BP dotting the Texas City landscape, which are in close proximity to the new facility. In addition to benefiting from the stability of the various refineries, the Texas City economy also relies on tourism, higher education, and healthcare. The Texas City Dike also known as the world’s longest fishing pier, College of the Mainland, and Mainland Medical Center are all regional economic drivers and are all close to the soon to be completed self storage facility.

Broker Information

Dave Knobler

First Vice President

Phone: 713.452.4200
Email: dknobler@marcusmillichap.com
License: TX 606252

Charles "Chico" LeClaire

Executive Managing Director

Phone: 303.328.2025
Email: cleclaire@marcusmillichap.com
License: CO EA00147681

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