250 N. Red Cliffs Dr.
Saint George, UT 84770 ·
94,889 SF · Retail For Sale
The Promenade at Red Cliff
|Gross Leasable Area||94,889 SF||No. Stories||1|
|Property Use Type||Investment||Lot Size||11.55 AC|
|Cap Rate||8.46%||Parking Ratio||4 / 1,000 SF|
|Listing ID: 13784359||Date Created: 10/07/2003||Last Updated: 07/16/2004|
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.
- Excellent Visibility
- Easily accessible
- Quick access to I-15
- Prime site
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