The Colony Retail Shops is an 8,700 square foot retail building with four tenants including Chipotle, T-Mobile, BurgerIM, and Texas Men’s Primary Care, a medical clinic specializing in men’s health. Three of the four leases are corporately-executed providing an extremely stable long-term investment. There is not a lease expiration scheduled for over four years and three tenants have a rent increase during that time. The property is situated with excellent visibility along Highway 121, which carries 125,000 vehicles per day.

The catalyst to this submarket’s rapid growth was the opening of Berkshire Hathaway’s Nebraska Furniture Mart (NFM) in 2015, just a half mile east from the subject property. NFM’s 1.9 million square foot facility attracts around 9 million shoppers per year and has generated between $600 and $750 million in annual sales since opening. It is part of Berkshire Hathaway’s 430-acre mixed-use development Grandscape. Upon completion, it will boast 4 million square feet of retail, dining, residential and entertainment. When Scheels opens on April 4, 2020, it will become the world’s largest sporting goods store at 325,000 square feet. It is estimated that Grandscape will employ about 10,000 people once completed and that includes approximately 2,500 employees of Nebraska Furniture Mart.

Another major economic driver of the 121 Corridor was the relocation of Toyota North America’s corporate headquarters. Just two miles east of the subject property, the company offices 4,000 employees in this location and it opened in the summer of 2017. Directly adjacent to Toyota is the new FedEx Office corporate headquarters which holds 1,200 employees and opened in early 2016. These two companies strengthened a dynamic office submarket which already included the corporate headquarters of Pizza Inn, JCPenney, Ericsson North America and others. Area retailers in the trade area include a 3- story, 100-bay TopGolf (directly across 121), Walmart Supercenter, Kroger, Home Depot, Floor & Décor, Spec’s and a slew of dining options.