This Retail property is Off-Market. Search below to find active commercial real estate for sale or lease.
Browse More Listings in Retail For Sale,
Priest and Elliott, Tempe, AZ 85284-1111
248,042 SF | Retail
Retail Property - Off Market
- Gross Leasable Area:
- 248,042 SF
- Property Type:
- Property Sub-type:
- Power Center
- Property Use Type:
- Cap Rate:
- Year Built:
- Lot Size:
- 21.95 AC
- Listing ID
- Last Updated
- over 1 year ago
- 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.
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
The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO