26 E. Baseline Road
Phoenix, AZ 85042 ·
43,276 SF · Retail For Sale
South Mountain Plaza | Great Upside & Stability
|Price||N/A||Property Use Type||Investment|
|Gross Leasable Area||43,276 SF||No. Stories||1|
|Property Sub-type||Neighborhood Center||Year Built||1979|
|Listing ID: 17866033||Date Created: 10/08/2012||Last Updated: 06/21/2013|
DOLLAR TREE AND FRESENIUS RECENTLY RENEWED - SAFE STABLE PROPERTY - WITH VALUE-ADD/UPSIDE OPPORTUNITY. EXCELLENT CREDIT with Dollar Tree (NASDAQ: DLTR - 4,450 stores) and Fresenius Medical (NYSE: FMS, Frankfurt: FME - 2,900 locations) that, combined, make up 1/2 of the shopping center with the balance being occupied by a great mix of smaller local and regional tenants. South Mountain Plaza is a very well located 43,276 SF shopping center that is a part of a larger 105,000 SF shopping center. South Mountain Plaza benefits from a strong, vibrant and diversified tenant mix. A majority of the tenants in the shopping center are well established and have proven successful enough in their current locations to renew for additional terms.
South Mountain Plaza is very well positioned in the geographic and cultural/community center of the South Mountain Urban Core Village. Very conveniently located within minutes of downtown Phoenix, the area is strategically positioned to benefit form its outstanding access to all parts of the Metro Phoenix area.
The trade area contains an excellent mix of both well established neighborhoods as well as many new home community developments. 2,500 new homes have been completed recently or are under construction/planned within the immediate (+/-3 mile trade area). Examples of new developments and area attractions include:
The popular Raven Golf Club at South Mountain, The Legacy Golf Resort (322 single-family homes and 150 patio homes as well as luxury guest hotel suites), Pointe South Mountain Resort, etc.
- Anchor Tenants (Dollar Tree and Fresenius) just renewed their leases.
- Asking Price Was Just Reduced. (February 2012)
- Excellent Combination of solid in place income as well as attractive value-add/upside opportunity
- Solid Tenant Mix - 50% of GLA is National Credit
- Very attractive, Assumable, Non-Recourse Financing In Place.
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