2650 North Ave
Grand Junction, CO 81501
Red Cliff Pointe · Retail Property For Sale

arcus & Millichap is proud to present to qualified investors Red Cliff Pointe, a 49,686 square foot multi-tenant community shopping center. Red Cliff is located on North Avenue in Grand Junction, a major four-lane thoroughfare with traffic counts of 34,287 vehicles per day. Built in 1990, Red Cliff Point is 94 percent leased to seven tenants, of which 56 percent of the space is national credit, including Comfort Dental, CSL Plasma and Tuesday Morning. All leases are triple-net and current in-place rents average $9.63 per square foot. Red Cliff Pointe’s stability and future upside growth potential cannot be overstated. Comfort Dental has been in occupancy since 2014 and has five years remaining (4/2024); CSL Plasma is on a 15-year lease with approximately 12 years remaining (2/2031) with two option periods with rent bumps; Tuesday Morning, in occupancy since 2000, has one year remaining with two three-year options, and has recently indicated a desire to renew and expand. All three tenants have rent escalators. It is also noteworthy that CSL Plasma has invested in excess of $1,000,000 in rehab and tenant improvement costs in their space. The city of Grand Junction, with a population of approximately 100,000 in its MSA, is experiencing its best growth year in a decade. The economy has become more diverse and less dependent on the oil and gas industry. Many new companies in the tech industry as well as service and distribution have relocated to the Grand Junction valley. In addition, North Avenue is undergoing a revitalization plan. It is part of a four-mile corridor which is being petitioned as an urban renewal area. This will also drive more traffic to this retail area and instill increased rents and occupancy levels for the future. Priced at an 8.85 percent capitalization rate, and $104 per square foot, Red Cliff Pointe will provide a new owner with a going-in double digit cash flow, stability in tenancy, national credit anchors, excellent frontage on a major high traffic thoroughfare, and upside in current rents with built-in lease escalators.