Cedars Corner

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Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Cedars Corner, a premier urban mixed-use retail and multifamily asset located at 1108 South Akard Street and 1407 Griffin Street East, in the heart of the rapidly transitioning Cedars urban submarket of Dallas, Texas.  Cedars Corner features 15,590 rentable square feet, split between two floors.  The first-floor features six retail suites, while the second-floor features fourteen multifamily units.  The property is currently 81.80% leased, providing tremendous upside potential to a new investor through lease-up of the two remaining retail vacancies and converting the gross retail leases into triple-net leases.

The subject property is strongly positioned at a signalized hard corner, with direct access to downtown Dallas.  The property includes a gated on-site parking lot, an exceptional amenity in this thriving district.  Strategically located near the Kay Bailey Hutchison Convention Center and the proposed high-speed rail, the asset benefits from strong pedestrian and commuter traffic. Additionally, the surrounding area boasts an average household income exceeding $116,000 within a one-mile radius, signaling a robust consumer base. This unique offering presents an unparalleled opportunity to invest in a dynamic and evolving neighborhood, primed for continued growth and development.

The Dallas-Fort Worth metroplex stands as one of the premier commercial real estate markets in the United States, experiencing rapid expansion and attracting significant investment. As a top-tier job market, the region is home to 24 Fortune 500 company headquarters, eight Fortune Global 500 headquarters, and 49 Fortune 1,000 headquarters, solidifying its position as a corporate powerhouse. DFW continues to lead in year over year job growth, having added more than 132,000 jobs in the past 12 months—a notable 3.3% annual increase.

Adding to the city's momentum, Dallas has garnered substantial attention with the recent launch of the Texas Stock Exchange, backed by prominent Wall Street investment firms such as BlackRock, Citadel Securities, and others. The influx of corporate relocations and steady job growth has fueled a surge in new residents flocking to the Metroplex, driving an increased demand for additional housing and retail developments to accommodate this booming population.