Historical Retail Sale Listing - The Groves

Retail For Sale

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The Groves

Priest and Elliott, Tempe, AZ 85284-1111

N/A

248,042 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
248,042 SF
Property Type:
Retail
Property Sub-type:
Power Center
Property Use Type:
Investment
Cap Rate:
8.23%
Occupancy:
100%
Tenancy:
Multiple
Year Built:
1994
Lot Size:
21.95 AC
Listing ID
105328
Last Updated
over 1 year ago

Highlights

  • The area surrounding The Groves continues to have the highest residential growth rate in the state of Arizona.
  • The Property draws patronage from a 10-mile radius with a population of 845,379. Growth within a five-mile radius of the Center form 1980 to 1998 was
  • The in-line tenants offer diversity of non-internet competitive goods and services, complementing the anchors.
  • Some of the highest income levels in the metropolitan area define the primary and secondary trade areas. Neighborhoods within the primary trade area
  • Below market rents provide upside for the investor. Contractual rates at The Groves are, on average, 10% below prevailing market rents.

Description

Built in 1994, The Groves currently totals 231,642 square feet and sits on a 21.951-acre site. An additional 16,400 square feet is currently under construction at the east end (end cap) of the main center.

Located at the intersection of Priest Drive and Elliot Road, The Groves enjoys a high profile, commercial location with exposure to 50,000 cars per day.

Map of Tempe, AZ, 85284-1111 - exact location not found

Research for Priest and Elliott, Tempe, AZ 85284-1111

Created 10/21/1999