Historical Retail Sale Listing - The Promenade at Red Cliff

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The Promenade at Red Cliff

250 N. Red Cliffs Dr., Saint George, UT 84770

N/A

94,889 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
94,889 SF
Property Type:
Retail
Property Sub-type:
Regional Center/Mall
Additional Sub-types:
Specialty Center
Power Center
Property Use Type:
Investment
Cap Rate:
8.46%
Occupancy:
97%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1998
Lot Size:
11.55 AC
Parking Ratio:
4 / 1,000 SF
Listing ID
13784359
Last Updated
over 1 year ago

Highlights

  • Excellent Visibility
  • Easily accessible
  • Quick access to I-15
  • Prime site

Description

The Promenade is a multi-tenant retail comples originally completed in 1998. There are 22 spaces available for lease. Currently there are six major credit tenants (Staples, Old Navy, Big 5 Sporting Goods, Franklin Quest, Gen X Clothing and Hollywood Video). These tenants account for just over 71% of the space. Current lease negotiations are under way with another national credit tenant for 3,000 to 4,000 sf. This will put major credit tenancy to 76%. Well constructed and located this is a premier property and should be considered a real pride of ownership opportunity.

This property is positioned at the epicenter of retail activity in the souther Utah region. The major big and mid box stores are located either north or south on Red Cliffs Dr. with the Promenade located in the middle. St. George Blvd. and I-15 is the major on/off ramp in St. George and serves as a major center of activity for the 4.5 million tourist visits to the area each year. St. George is located approximately 480 miles south of Salt Lake City and 165 miles north of Las Vegas. St. George has long been Utah's Palm Springs with many middle and upper middle class families owning second homes in the area. The climate is moderate in the winter and lends itself to a winter haven for those who live in the northern part of Utah as well as other surrounding states.

Map of 250 N. Red Cliffs Dr., Saint George, UT 84770

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Created 10/7/2003