Centennial Plaza is a 100% occupied two-tenant strip center with brand new long-term leases. The tenants, Jimmy’s Egg and Rex’s Chicken, are regional credit tenants with rental escalations and options. The lease guarantor on Jimmy’s Egg, OverEasy LLC, is an experienced & debt-free 4 unit franchisee with plans to open another location this year. The building was renovated by Jimmy’s Egg in 2016 with an estimated tenant cost of $500,000. Rex’s Chicken spent approximately $600,000 on their buildout in 2017.
The subject property is located in Bixby, Oklahoma, situated on a large 1.67 acre parcel on the main retail corridor with high drive-by visibility. Centennial Plaza sits in an affluent trade area with an average household income of $121,048 in the 3 mile ring and has seen a 20.68% population growth in the 1 mile ring. The plaza is within 10 miles of Northeastern State University & University of Oklahoma – Tulsa Schusterman Center. Nearby retailers include Walmart Supercenter, Lowe’s, Reasor’s Pharmacy, Target, ALDI and Woodland Hills Mall – A two level, +1,000,000 SF, super regional shopping center with more than 165 retail stores anchored by Dillard’s, JCPenney, Macy’s & Sears.
*In Association With: The Fuller Agency, Inc.