Historical Retail Sale Listing - Foothills Park Plaza

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Foothills Park Plaza

1241 E. Chandler Boulevard, Phoenix, AZ 85048

N/A

20,173 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
20,173 SF
Property Type:
Retail
Property Sub-type:
Neighborhood Center
Property Use Type:
Investment
Cap Rate:
9.75%
Occupancy:
83%
Tenancy:
Multiple
Year Built:
1996
Lot Size:
97,662 SF
Listing ID
16740461
Last Updated
over 1 year ago

Highlights

  • located in the very desirable Ahwatukee Foothills/Club West Master Planned Community.
  • Located at the main and most important intersection in the trade area.
  • Great mix of tenants that provide diversity and a great cross promotional mix.
  • Attractive building with good exposure to the street.

Description

Foothills Park Plaza is a very well located 20,173 SF multi tenant shopping center. Situated in the heart of one of Phoenix's most desirable master planned communities (Ahwatukee Foothills/Club West), the property benefits from the high income/high net worth households in the area. Foothills Park Plaza has nine long term and diversified tenants that serve the trade area. The property is fortunate to have a wonderful tenant mix that seems to really generate a very good cross promotional environment for one another. Property is attractively priced - 9.75% cap on exisitng income plus only $75/SF for the vacant 3,420 SF end cap suite. (this $75/SF is well below replacement cost and provides some upside potential for the investor).

Located in the heart of the Ahwatukee Foothills/Club West master planned community, the property is on the corner of Desert Foothills Boulevard and Chandler Boulevard which is the most signifigant and main intersection serving the trade area. Chandler Boulevard runs east west all the way from the western edge of Ahwatukee Foothills/Club West all the way east to the I-10 freeway. It is the main route for residents getting form the area in to the balance of the Metro Phoenix area. Desert Foothills runs north/south serving the community and is planned to be oneof the freeway exits for the planned South Mountain Freeway.

Map of 1241 E. Chandler Boulevard, Phoenix, AZ 85048 (Maricopa County)

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Created 6/28/2010