Historical Retail Sale Listing - TownGate Center

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TownGate Center

12625 Frederick Street, Moreno Valley, CA 92553

N/A

285,775 SF | Retail

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Retail Property - Off Market

Price:
N/A
Gross Leasable Area:
285,775 SF
Property Type:
Retail
Property Sub-type:
Strip Center
Property Use Type:
Investment
Tenancy:
Multiple
Lot Size:
28.50 AC
Listing ID
18356396
Last Updated
261 days ago

Description

* Brand new 10-year leases with Ulta, BevMo!, Planet Fitness, and TJ Maxx/Home Goods

* A 285,775 SF community center, TownGate Center is currently 91% leased to 42 tenants with staggered lease expirations, limiting roll-over in a given year

* Through the lease up of vacant space, embedded rental increase, and below market rents, the NOI is projected to grow nearly $2,187,000 (75%) over a 10-year hold period

* Located adjacent to the Moreno Valley Mall at the core of a vibrant retail trade area that includes national tenants such as Macy' s, Sears, Costco, Lowe' s, Winco Foods, Sports Authority, Applebee' s, Bakers Burgers, Mimi' s Café, Buffalo Wild Wings, and Portillos

* More than 126,000 cars per day pass the property on the 60 Freeway at Frederick Street, driving past the properties newly constructed, 80-ft pylon sign

* Moreno Valley is positioned for residential growth with the housing market approved for more than 8,200 single-family and 3,100 multi-family units

TownGate Center, a 285,775 SF community center located in the heart of Moreno Valley adjacent to the Moreno Valley Mall along Highway 60

Map of 12625 Frederick Street, Moreno Valley, CA 92553 (Riverside County)

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