This Retail Property is Off-Market.

12625 Frederick Street
Moreno Valley, CA 92553 ·

285,775 SF · Retail For Sale

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TownGate Center

Price N/A Property Use Type Investment
Gross Leasable Area 285,775 SF Tenancy Multiple
Property Type Retail Lot Size 28.50 AC
Property Sub-type Strip Center
Listing ID: 18356396 Date Created: 09/13/2013 Last Updated: 03/06/2014

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

Research

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

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

Moreno Valley Market Trends - Asking price index trends, sale price trends, asking rent trends

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