1319 George Dieter Dr
El Paso, TX 79936
Khols · Retail Property For Sale

The Boulder Group and Lee & Associates are pleased to exclusively market for sale a single tenant ground leased Kohl’s property located in El Paso, Texas. Kohl's has operated at this location since 2001, exercised its first renewal option in 2021, and is expected to execute the next renewal option1, demonstrating commitment to the site. Upon the renewal execution, the lease will extend through 2032, with eight additional 5-year renewal options, each including a 5% rent increase. Kohl's will pay $5.16/SF, a low rent for a national big-box location. The subject lease is triple-net, presenting no landlord responsibilities. This is a strong-performing location for Kohl's — inquire with the broker for more details. This is a rare opportunity to acquire a cash-flowing asset with a land basis of approximately $790,000 per acre. Additionally, Texas is an income-tax-free state. The 86,800 square-foot building is strategically positioned at the George Dieter Drive interchange of Interstate 10, one of the nation's most critical east-west commercial corridors, generating over 132,000 vehicles per day at the interchange with 55,229 VPD passing directly in front of the center's entrance. The property is anchored within Las Palmas Marketplace, a ±750,000 SF open-air power center and one of El Paso's primary retail destinations, featuring 51+ stores and restaurants including Lowe's, Cinemark (20-screen theater), Burlington, Ross, Five Below, DSW, Michaels, Starbucks, and Walgreens, among others. Additionally, the property sits less than one mile northwest of a largely occupied industrial corridor with tenants such as Johnson Controls, Honeywell, XPO Logistics, DHL, Wrangler Jeans, ABC Supply Co, and TORO. The subject also benefits from its proximity to Fort Bliss, one of the U.S. Army's largest installations, home to 28,000+ active-duty personnel, a total community of approximately 160,000 military members, dependents, and civilians, and generating a $27.9 billion annual economic impact supporting approximately 127,000 jobs across Texas. There are over 274,000 people living within a 5-mile radius, which does not include the population of Ciudad Juarez, and the average household income within the same radius exceeds $80,000.