Hulen Pointe

Investment Highlights

Significant Value-Add, Community Center in Dallas/Ft. Worth.

Hulen Pointe is a well-located 174,078 square foot neighborhood, community-centered shopping center anchored by a substantially renovated, 10-screen AMC Theatre (35,232 square feet) with a lease expiration of May 30, 2029. With thirty-one (31) existing service-oriented retailers and restaurants, Hulen Pointe is strategically positioned at the southwest corner of Hulen Street and Oakmont Blvd. in Southwest Ft. Worth approximately one (1) mile south of Hulen Mall, a nearly one million square foot super-regional mall serving as the only enclosed mall in the entire southwest Ft. Worth region.

Tremendous Upside Potential from Vacancy Lease-up and Outparcels.

At 78% leased, Hulen Pointe presents an investor with the rare opportunity to significantly increase the asset’s net operating income by 27% in less than 4 years by leasing 37,900 square feet of vacant, second-generation space. There is one (1) junior anchor vacancy totaling 32,000 square feet. Additionally, there are two (2) undeveloped, separately platted pad opportunities adjacent to AMC Theatres facing Hulen Bend Blvd that are included in this offering.

Below-Market Rents and Significant Discount to Replacement Cost.

Existing rents at Hulen Pointe are averaging $16.25 per square foot which is significantly below current market rents for the Southwest Ft. Worth submarket. Low rents combined with the existing 22% vacancy factor provides an investor the opportunity to purchase the property at less than half of replacement cost. Additionally, more than 87% of existing tenants at Hulen Pointe have no renewal options or have future market value (FMV) options.

Strong AMC Theatre Sales Growth and New Roof for Shopping Center.

AMC Theatre received a substantial, multimillion-dollar interior renovation in 2018 which has helped drive their sales at Hulen Pointe. AMC’s year-over-year annual sales growth exceeded 24% in 2023, and year-over year annual sales growth exceeded 46% in 2022. AMC Theatre is separately platted and could be spun off separately by an investor. In late 2022, the landlord spent $2.5 million to install a new roof for the entire shopping center (including AMC Theatre) with a 20-year roof warranty.

Exceptional Rent Growth Profile with Anchor Draws.

Over a 5-year hold period, Hulen Pointe’s compound annual growth rate (CAGR) exceeds 5.3% based on organic rent growth and using conservative market lease rate assumptions to lease up the existing vacant space. In addition to AMC Theatre, the Dollar Tree store generates additional traffic to the center and both anchor tenants have extended their leases until 2029. Hulen Pointe is bordered by three (3) thoroughfares and benefits from two (2) signalized intersections with more than 46,848 vehicles per day passing by the center

Surrounded by Dense, Affluent Demographics with Solid Growth.

Within a 3-mile radius, Hulen Pointe is surrounded by more than 106,962 residents with average household income of $105,223. Within a one-mile radius, there are more than 16,858 residents with average HH income exceeding $78,224. Incomes are projected to grow 2.33% annually with the population expected to continue to increase 1.06% annually through 2028.